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Facebook Reportedly Acquires Snaptu For An Estimated $60 – $70 Million

March 20th, 2011 03:44 admin Leave a comment Go to comments

According to several Israeli business newspapers (TheMarker, Calcalist) Facebook has acquired Snaptu for an estimated $60 – $70 million, although some reports peg the price lower, at around $40 million.

Snaptu provides a solution for developing, deploying and maintaining online services, particularly on mobile phones. Just a few months ago, Facebook partnered with the company to launch a rich application specifically for feature phones.

The startup was also just in the news for striking a similar deal with professional social networking service LinkedIn. Other supported services include Twitter, Picasa and more.

Snaptu was founded in 2007 and is based in London, with offices in Tel Aviv and Silicon Valley.

The company raised over $6 million in venture capital funding from Carmel Ventures and Sequoia Capital.

We’re trying to confirm the deal with both Snaptu and Facebook, but obviously the timing of the reports aren’t ideal for that to happen quickly – it’s the middle of Saturday night in the United States.

Source: Facebook Reportedly Acquires Snaptu For An Estimated $60 – $70 Million

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