Facebook acquires Snaptu, builds inroads into feature phone category (and new geographies)
600 million is the number of users on Facebook. Most of these users are admittedly from US, Mid East, Latin America and West Europe and other geographies with a high internet penetration. In an earlier post some months ago when Facebook had touched 500 million, I had mulled about the next wave of users for Facebook.
Facebook’s acquisition of Snaptu is perhaps one answer to Facebook’s growth conundrum. This is being hailed as a Good Move for FB. It will give them a ready access to millions of feature phone users in Non US market where majority of folks don’t have access to PC. The estimated value of the acquisition is put at $60-70 million, and some reports peg this lower at $40 million. Earlier this year, Snaptu announced the launch of a new Facebook mobile application to give people a great mobile experience on a broad range of feature phones. The Facebook for Feature Phones app currently works on more than 2,500 devices. Apart from Facebook, Snaptu also provides feature phone access to other products such as Linkedin, Twitter, Picassa and more.
This is the second international acquisition for Facebook after Malaysia’s Octazen. It marks its fourth purchase this year, after earlier picking up Rel8tion, Pursuit and Beluga.
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