Facebook Acquires Pryte for App Data Plans in Emerging Markets (ArcticStartup)

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.

Similar Posts:

• 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)
• Improving Facebook on Android for Frontier Markets Like Africa
• Old Russia Hands’ Poll: Where Will Russia’s Economy Be in 5 Years? (MT)
• Russian Stocks Are Trading Cheaper Than Half of Their Book Net Asset Value (MT)
• The 15 Most Miserable Emerging Market Economies (Bloomberg)
• How Does Tencent Compare With World’s Tech Titans? (Forbes)
• Investment Implications of the Russian Invasion (Franklin Templeton)
• FPA Crescent (FPACX) Fund Makes Some Interesting Emerging Market Stock Bets (Kiplinger)
• Russia: Tread Cautiously Into 2021 (Wellington Management)
• Global Emerging Markets: Country Allocation Review 2021 (Federated Hermes)
• Russia’s Mechel to Dump US and Other Assets to Focus on Asia (MT)
• 2014 BCG Local Dynamos: 50 Emerging Market Consumer Companies to Watch (BCG)