Although Jambool and Google weren’t offering comment about the report this week that Google bought the virtual currency service provider, cofounder Vikas Gupta has now confirmed the deal — although the company’s not saying anything about the reported $70 million to $75 million price.

Joining Google has been a long road for Jambool and its monetization product, Social Gold.

Like other companies in the same space, Jambool has been getting squeezed out of Facebook as that company introduces its own virtual currency, Credits. Gupta responded at length to Facebook’s aggressive introduction of Credits in a lengthy interview with us last month.

Despite the Google acquisition, Jambool says that it’s still doing business as usual, and will continue to operate all its accounts and work on Facebook.

Here’s the message that the Jambool homepage is currently displaying; it doesn’t provide detail on what the company’s plans with Google are, although one can easily assume that those plans have something to do with Google’s new social product efforts.

A Letter from our Founders

August 13, 2010

We are excited to announce that Jambool is becoming a part of the Google family today.

Jambool started as a social collaboration platform in 2006. In 2007, we shifted our focus to build applications on social networks. Along with success, we found fun and lucrative ways to monetize our apps – specifically virtual currency and goods. That led us to create a platform to help developers create, host, manage and monetize their virtual economies.

Social Gold has grown by leaps and bounds since it went live in 2008. In the first half of 2010, we’ve processed more than double the entire payment volume we processed in all of 2009. And we’ve welcomed hundreds of developers to our platform. The fact that our highest revenue day was in the last week attests to the continued growth of online gaming.

Our vision is to build world-class products that help developers manage and monetize their virtual economies across the globe. When the opportunity arose to join forces with Google to execute against this vision, we couldn’t pass it up. We are thrilled to bring the Social Gold platform to Google’s global users. And we invite you – our customers, partners, and friends – to continue on the journey with us.

Over the last few years, we have had the great fortune of working with an incredible team. Every day, we are amazed and humbled by what they have accomplished. We have had terrific support from our partners, investors and advisors; and we are lucky to have worked with each of them. Thank you!

As a team, we remain passionate about innovating on behalf of our customers. We aim to deliver the most frictionless, seamless transaction experience inside applications and games on every platform. We are thrilled to be part of Google, and we look forward to the exciting road ahead.

The game has only just begun.

Vikas & Reza