Popular Content Sharing and File Upload Service, Drop.io, has been acquired by the social network giant, Facebook. The Drop.io blog posted that “most of [its] technology and assets” have been purchased by Facebook as CEO and Founder Sam Lessin struck a deal with the social giant. Lessin would be moving to Facebook headquarters as Facebook rep said, “We’re thrilled that Sam Lessin will be joining us”. Over three years, Drop.io has been providing the people to privately share pictures, video, audio, documents and much more.

Drop.io further announced that it would be winding up the services for the users in the coming weeks. While with immediate affect, people will no longer be able to create new free drops but downloading content would still exist till Dec. 15. After Dec. 15, paid accounts would also be discontinued. All data would therefore be deleted after Dec. 15 due to which users are being advised to download their information.

Free users would be able to access their old content until November 15.

Both the founders, Facebook and Drop.io, were Harvard classmates with Lessin introducing Zuckerberg to venture capitalists and media executives in 2004. Drop.io faced a lot of competition from Dropbox and Box.net but a certain set of features made it different, which included, live chat, collaborative documents and fax support.

It is not known till date whether Facebook would be offering any kind of service to Facebook users or beyond after Drop.io’s acquisition.