Quantcast
logo

Facebook acquires Israeli startup

  • Facebook announced today that it has bought an Israeli startup, which might help Internet.org initiative; Mark Zuckerberg aims to provide access to free Internet to the whole world. 

    Startup Onavo was founded three years ago and its software has the ability to substantially cut the consumption of data on smartphones. 

    "We expect Onavo's data compression technology to play a central role in our mission to connect more people to the Internet, and their analytic tools will help us provide better, more efficient mobile products," a Facebook spokesman said. 

    It's unusual for the workers of an acquired business to not be relocated but according to this deal, most of them remain in Israel. 

    Facebook is expected to operate Onavo much the same way as it operates Instagram; reports suggest that Facebook paid over $150M to acquire the company. 

    Tagged as: Facebook company acquired, Israel company facebook, mark zuckerberg initiative, technology news