Facebook shuttering Parse after acquiring it for $85 million in 2013

Facebook is shutting down a big cash acquisition.

Parse, a set of tools for mobile developers that Facebook acquired for $85 million in April 2013, announced it's winding down its services and will be fully retired by January of next year.

"We know that many of you have come to rely on Parse, and we are striving to make this transition as straightforward as possible," Kevin Lacker, co-founder of Parse, said. "We enjoyed working with each of you, and we have deep admiration for the things you've built. Thank you for using Parse."

Developers used Parse thanks to its cloud-based scalable cross-platform services and tools for building apps for both iOS and Android. Since Parse was acquired, it has added an analytics dashboard measuring custom-designated events, new cloud modules for facilitating the integration of a Parse-made app with third-party services, and a library of low-level code dubbed "Bolts" for speeding up the design and development of mobile apps.

Big names that use the service include Quip, a productivity app, and Expedia's Orbitz travel website. Facebook has apparently had a change of heart about offering services outside of its bread and butter ad sales, which generated record profit last quarter.

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