Posted 10/14/2013 at 1:20 PM
Posted 3 years ago
Facebook is dipping into exotic locales as it has acquired Israeli startup Onavo, insiders are saying, for as much as $200 million.
Onavo can be credited for developing Insights, a market intelligence service that purposefully shows market share and active usage of apps. It is what best can be described as a ‘little data’ system that shows how people use their devices. Going from a premium to freemium model has been an interesting move by Onavo. Onavo’s data compression app is being used by hundreds of thousands of people. With Facebook working with Onavo, the numbers of users will shoot up, most likely, into millions.
Onavo’s Tel-Aviv office will remain open for business and in turn will become Facebook’s new Israeli office. The research and development arm in Israel will answer the long-in-the-tooth question of when Facebook was going to have a presence in that key country.