Facebook Acquires SNAPTU For $70 million

Facebook has acquired the mobile app development, deployment and maintenance company SNAPTU for $70 million. <a href="https://techcrunch.com/2011/03/20/facebook-reportedly-acquires-snaptu-for-an-estimated-60-70-million/" target="_blank" rel="noopener noreferrer">Confirmed: Facebook Acquires Snaptu (For An Estimated $60 - $70 Million) • TechCrunch</a>broke the story.

Facebook had partnered with SNAPTU few months ago to develop rich applications for the smart phones. It's important to note that SNAPTU had recently partnered with LinkedIn for similar app development.

The company has raised over $6 million in venture funds from leading VC firms.

SNAPTU's acquisition is FB's first ever international acquisition.