Facebook Buys Isreali Mobile Startup Snaptu
Posted on 21 March 2011 by Matt
Israeli mobile app startup Snaptu, has been acquired by Facebook. Snaptu develops mobile applications that work on any mobile phone.
Facebook recently contracted Snaptu to develop its a phone application, which provides an experience close to a smartphone to over 2,500 mobile devices with Java-based apps that work, look and feel like their smart phone counterparts.
Snaptu CEO, Ran Makavy, stated:
“Our goal when we founded Snaptu in 2007 was to provide useful and innovative services to the 95 percent of mobile users that don’t have access to advanced smart phones.”
“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.”
Snaptu started in 2007 and received funding from venture capital firms Carmel Ventures and Sequioa Capital.
The facebook / Snaptu deal is estimated to be over $65 million.
