Updated: GOOD Buys Facebook Vet Chris Hughes’ Jumo

GOOD, the media platform whose tagline is “for people who give a damn,” is acquiring Jumo, the social action site founded by Facebook (and Obama campaign) vet Chris Hughes. Update: Reports this afternoon suggest that this is more of a face-saving merge than an outright acquisition.

Jumo, which Hughes founded in February 2010, is like a Facebook for nonprofits and NGOs: It lets them create pages on Jumo, which people can “support” (follow). There are currently about 15,000 organizations on Jumo.

GOOD was cofounded by Ben Goldhirsh, the son of Inc. Magazine founder Bernard Goldhirsh, in 2006 and started out as a print magazine. The GOOD network now includes a website, videos, and live events in addition to the magazine. Last year, it launched GOOD Corps, a social action-oriented marketing and consulting firm that has worked with brands like Pepsi and Toyota Prius. Terms of the deal, which is GOOD’s first acquisition, were not disclosed.

Hughes told Fast Company, which first reported the news of the acquisition (and is the sister publication of Inc.), that the partnership provides the editorial content that Jumo has been lacking:

“People need carefully curated content if you are going to sustain their interest. Particularly in the context of the not for profit world. People have to be consistently inspired, outraged, or excited. And there are nonprofits out there who are doing noble work in their communities and good jobs with their social outreach, but simply can’t generate enough content, particularly on local issues.”

Hughes will join GOOD as a senior advisor, and Jumo content will be integrated under the GOOD umbrella. “As our teams combine, you will see the emergence of a single, vibrant online network on GOOD.is,” Hughes writes on the Jumo blog. “I will be teaming up with GOOD’s CEO, Ben Goldhirsh, to help grow GOOD and Jumo through an important stage of development. And in the spirit of our heritage as a non-profit, we will be open-sourcing our own codebase to enable other social entrepreneurs to use our progress thus far for their own endeavors.”

Update: Betabeat intimates this afternoon that GOOD didn’t actually buy Jumo: “The terms amounted to $0, a loose ‘advisory’ role for Mr. Hughes at GOOD, and the opportunity for Jumo’s 16 employees to interview for the start-up’s new owner.” It allowed Hughes to “save face,” they say, rather than declaring Jumo a failure. In addition, Betabeat says, this morning’s Fast Company article was the first time that the Jumo employees had heard about the new arrangement. I’ve reached out to GOOD for clarification on this, and will update this post if I hear back.