Facebook continues its shopping spree – acquired Onavo, a 3 yer old Israeli mobile data analytics startup and the shares of the company plunged 1.5% in pre-market trading.
Onavo mobile utility apps and Onavo Insights, mobile market intelligence service based on real engagement data are the popular services came out from the firm, which provided the analytics service for more efficient use of data. Onavo confirmed the acquisition in the blog post by Guy Rosen and Roi Tiger, Co-Founders. However, their apps such as Onavo Count and Onavo Extend will continue to provide service as in standalone mode.
Words from the Blog post:
We are incredibly proud of the talented team we have assembled, and, recognizing this, Onavo’s Tel-Aviv office will remain open for business and will become Facebook’s new Israeli office.
Although the Onavo confirmed the deal, Facebook hasn’t revealed any details related to the Onavo deal, including the negotiations and future plans. The acquisition makes the office as the first Facebook office in Israel.
Apart of the Facebook’s plunge in stock market, daily deals site – Groupon has also dipped 1.5% as it could be the beginning of the sliding of the stock. In last November, the shares of the company was in 52-week low of $2.63 and then company removed the founder to bring the share value to surpass $12.