Facebook to Buy Mobile Company in Bid to Better Reach Developing World
Facebook’s latest acquisition could help the company reach more people outside the developed world—a core priority for the company, and one often championed by CEO Mark Zuckerberg.
Reuters reports Facebook is paying an undisclosed amount for Finnish company Pryte.
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The details of Pryte’s service might not matter all that much, however. A Facebook spokesperson tells Reuters the company is mostly interested in the team behind the service and its “valuable experience and relationships working with wireless operators, particularly in emerging markets.’’
Pryte confirmed the planned acquisition in a message on its website.
The news comes a day after Google announced it would spend $1 billion to build satellites that could beam down Internet access to the rest of the world. (Facebook had previously announced similar plans.) Internet companies see the developing world as an opportunity to grow their own user bases.
Facebook has made a number of headline-grabbing acquisitions this year, headlined by messaging service WhatsApp, which sold for $19 billion, and virtual reality gaming company Oculus VR, which sold for $2 billion.
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