Tuesday, October 15, 2013

Facebook acquires Onavo

Facebook wants to speed up its mobile apps. It has acquired Onavo, an award winning Onavo mobile - utility apps.In the main news today, it is seen that Facebook wants to speed up mobile apps.

About Onavo: Onavo is a privately-held company based in Palo Alto, CA with backing from Sequoia Capital, Magma Venture Partners, Horizons Ventures and Motorola Mobility Ventures. This company was founded in 2010. It has developed apps and given services to a number of mobile centric areas. The main functionality of Onavo is data compression with application that extend limited mobile data allowances on mobile devices. 

Facebook says, "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".

Onavo will work with members of Internet.org under the guidance of Facebook, to increase efficiency and lower the cost of internet access. 

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