On Monday, Facebook bought Branch Media, a link sharing and social conversations platform. The social media giant plans to use the talent of Branch's 9-man team to create a Facebook Conversations group, according to Rappler.

Branch co-founder Josh Miller announced the acquisition via Facebook. According to Miller, the new group aims to help Facebook members connect with other users who have similar interests, the report stated.

The US-based social network confirmed the deal but has not disclosed the exact terms. However, a report published by The Verge says the purchase was worth $15 million, the report said.

Branch is a web-based platform where users can start conversations about any topic they find online. Last year, the company launched an iOs app called Potluck. The mobile app allows its users to connect and share articles they want to discuss with each other, the report explained.

Miller said under the terms of the acquisition deal, Branch will continue to operate as standalone products, Rappler reported.