Facebook buys Israeli startup Onavo for more than $100 million
Facebook, the
world’s largest social network, has signed an agreement to acquire the Israeli
startup Onavo for more than $100 million. Onavo, the developer of an
award-winning mobile utility app and the company behind Onavo Insights, made
the announcement Monday morning to its employees and published a notice on its
blog. According to the agreement, Onavo will keep its Israeli offices, with their
30 employees, making this the first time that Facebook will run a research and
development center here. When Facebook acquired Snaptu andFace.com, it transferred the employees to its own
offices in the Silicon Valley. Facebook will also be keeping the products that
Onavo developed. Since Onavo was established, it raised $13 million from a
series of leading investors. Li Ka-shing’s Horizons Ventures, Sequoia Capital,
Motorola Mobility Ventures and the Israeli venture-capital fund, Magma Venture
Partners. Horizons Ventures and Magma Venture Partners are two of the
venture-capital funds that also invested in Waze, which was recently acquired
by Google for $1 billion. Onavo has 40 employees, 30 of whom work in Israel.
Onavo Insights
shows customer data such as the percentage of market penetration in the United
States smartphone market, a general ranking of application popularity,
competing applications, retention rate and engagement. The free service
includes information about iPhone applications in the United States, while the
paid service includes information about iOS and Android applications in dozens
of countries.
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