Facebook Buys Israeli Startup
It could give Zuckerberg's Internet.org initiative a boost
By Evann Gastaldo, Newser Staff
Posted Oct 14, 2013 8:07 AM CDT
In this May 16, 2012 file photo, a Facebook logo is displayed on the screen of an iPad in New York.   (AP Photo/James H. Collins, File)

(Newser) – Facebook has acquired an Israeli startup, the social networking company announced today, and in an unusual move, most of the employees will remain in Tel Aviv. Onavo, founded three years ago, is in the business of what the Next Web calls "mobile data optimization." Basically, its data compression software can cut data consumption on smartphones by as much as 80%, the New York Times reports. That could help Mark Zuckerberg's Internet.org initiative, which aims to get free or cheap mobile Internet access to everyone.

"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 spokesperson says. Typically, after Facebook acquires a company, workers are relocated to the Menlo Park headquarters. But a deal was made to keep most of Onavo's roughly 40 employees in Israel, and the co-founder and CEO says Onavo will basically be a standalone company, similar to the way Facebook runs Instagram. No word on price, but Fast Company figures Facebook paid $150 million or more.

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Oct 17, 2013 8:12 AM CDT
Don't buy any shares , I think Facebook is on the way OUT !. HELP! , where did my PRIVACY go??.
Oct 14, 2013 9:48 AM CDT
Is your need to share pictures of your lunch really more important than your freedom? Facebook is in the federal government's pocket, they can access any of your information at any time for any reason, facebook doesn't even resist the government spying, they almost encourage it. Time to protest FEDBOOK, e-mail works just fine for communication, you can even share your pictures of your lunch!