Facebook has announced the acquisition of Snaptu to help with its mobile expansion strategy.
Facebook, the largest social networking website in the world, bought Snaptu for a reported sum estimated between £25 million and £40 million.
Snaptu, the London based American-Israeli technology company, offers a service that runs on virtually every type of internet-enabled mobile phone, giving users the ability to browse social network websites like Facebook, without the need for a smartphone.
The company was only founded in 2007 and is already a booming business because non-smartphone users make up an extremely lucrative 80 percent of the market.
Earlier in the year Snaptu announced the launch of its new Facebook app. The app currently works on more than 2,500 devices worldwide.
With Facebook’s in-house development expertise, the pace of product development will surely accelerate, making an even bigger impact on the social networking world.
On its blog Snaptu says, “The acquisition is expected to close within a few weeks. We’ll have more updates on Snaptu soon, and we’ll be working hard to offer a richer and more advanced Facebook app on virtually every mobile phone. During this transition period, we expect Snaptu will continue to operate as it does today.
“We’d like to thank everyone involved in the development of Snaptu, especially our millions of loyal users. We can’t wait to get started at Facebook,” it added.
Recently the INQ Cloud Touch became the first phone to offer deep integration with Facebook, and many more are likely to follow.
Henri Mossinac, Facebook’s Head of Mobile Business says, ‘We want to have every user in every market using Facebook– we’re investing in smart phones and at the same time as in mass market phones because we believe with great features and great integrations, every phone can become sociable.”
Although neither party is giving away much, both companies are certainly optimistic about this new development. It certainly represents another leap towards ubiquity for Facebook.
This will certainly be an exciting venture and we cannot wait to see how it all pans out.