Facebook acquires first Israeli company, Snaptu
In January of 2011, Facebook partnered with Snaptu to enable functionality of its mobile app on the cellular phones that are less powerful than smartphones. It is predicted that smartphones will not hold the majority of the international market into 2015, so as Facebook continues to rapidly expand its mobile user base, it has found a viable partner in Snaptu.
This month Facebook has taken this partnership to the next level by announcing its plans to acquiring Snaptu for an amount estimated at $60-70 Million. This is will be Facebook’s first acquisition in Israel.