Facebook has now acquired its second Finnish company in the past few months and this time its Pryte, a Helsinki-based tech company that allows single-click buying of mobile data on a per-app basis. By doing so, telecoms in emerging markets can just provide the exact amount of data for the apps that users want, rather than bundling data in bulk. The acquisition was made for an undisclosed sum with the following note being posted on the Pryte website:
Today, we are delighted to announce that our team will be joining Facebook. Since we launched Pryte we have worked to reimagine the way mobile data works in an app-driven world, by enabling partnerships between app and content providers, and mobile operators.
Now, we’re joining Facebook, whose mission to connect the world by partnering with operators to bring people online in a profitable way aligns closely with our team’s goals. We are excited to get started, and make an even greater impact by advancing the work we are doing in collaboration with Facebook’s great team working to further Internet.org’s goal of making affordable internet access available to everyone in the world.
We want to express appreciation to our investors, who believed in us and in our vision from the early days. Thank you to everyone who has joined us on this journey.
– Pryte team
To read the whole article, Facebook buys Finland’s Pryte, go to the website of ArcticStartup.
- Bulgaria Goes Nuclear on Russia with a $5B Deal with Westinghouse (MT)
- Russia Billionaire’s Jailing Unleashes the Shorts on Mobile TeleSystems OJSC (Bloomberg)
- Burisma Holdings, Ukraine’s Largest Private Gas Producer, Welcomes Joe Biden’s Son to the Family
- Income Ideas From Emerging Markets (Institutional Investor)
- Gazprombank GPB Hires Former Senators Lott and Breaux to Fight Russia Sanctions (CPI)
- AmRest (WSE: EAT / FRA: 1QT / OTCMKTS: ARHOF): A Leading European Restaurant Operator Still Below Pre-COVID Highs
- Old Russia Hands’ Poll: Where Will Russia’s Economy Be in 5 Years? (MT)
- 2014 BCG Local Dynamos: 50 Emerging Market Consumer Companies to Watch (BCG)
- Russian Stocks Are Trading Cheaper Than Half of Their Book Net Asset Value (MT)
- Investment Implications of the Russian Invasion (Franklin Templeton)
- Improving Facebook on Android for Frontier Markets Like Africa
- The 15 Most Miserable Emerging Market Economies (Bloomberg)
- Anadolu Efes (IST: AEFES / FRA: EF41 / OTCMKTS: AEBZY): Bridging the East-West Divide With Beer & Soft Drinks
- FPA Crescent (FPACX) Fund Makes Some Interesting Emerging Market Stock Bets (Kiplinger)
- PKN Orlen (WSE: PKN / FRA: PKY1): Russian Oil Sanctions Bite But Looks to Expand in Germany Plus Pays Record Dividends