Facebook Acquires Snaptu to Bring Social Networking to Featu
The Israeli startup Snaptu has been acquired by Facebook for an estimated $70 million. Snaptu are a creator of simple mobile application for feature phones.
Snaptu was founded in 2007 as Mobilca and has raised funding from Sequioa Capital and Carmel Ventures. It provides a solution for developing, deploying and maintaining online services such as Facebook, Twitter and LinkedIn to almost any phone. The company's Java-based applications replicate many of the features of existing smartphone apps but make them accessible to the millions of people who do not currently have a smartphone.
Earlier this year, Facebook used Snaptu to create its feature phone app, which gives a smartphone-like experience including contact syncing and a homescreen similar to that found on the iPhone and Android applications. One reason Facebook chose to work with Snaptu is because its technology works on more than 2,500 different mobile devices.
In a blog post, Snaptu said "We soon decided that working as part of the Facebook team offered the best opportunity to keep accelerating the pace of our product development. And joining Facebook means we can make an even bigger impact on the world."
Facebook said in a statement that "As part of our goal to offer people around the world the opportunity to connect and share on mobile devices, we're excited to confirm that we recently signed an agreement to acquire Snaptu. We expect the acquisition to close in a few weeks, subject to customary closing conditions."
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