Facebook buys mobile bookmarking startup Spool

Social networking giant Facebook has acquired Spool to beef-up its mobile business.

Spool is a startup specializing in bookmarking and sharing content on smartphones or tablets.  Spool allows users to save text, image, and video content to mobile devices and view at their leisure, either online or offline.

“Spool is joining Facebook,” said the mobile bookmarking start-up firm in a blog post.

Facebook did not disclose financial terms of the deal.

“We are extremely excited to accelerate our vision and help Facebook’s users connect and share with the people in their lives. We wouldn’t be in a position to have this sort of impact without our supporters and the Spool community,” said Spool Co-founder Avichal Garg.

“We started Spool to make content easy to consume on a mobile device,” the startup said in a blog post telling users the service was closed and the team joining the world’s leading social network. We firmly believe that solving these problems will be increasingly important as the world accesses the Internet primarily through mobile devices.” Garg added.

This will be the latest deal by Facebook in bid to shore-up its mobile business. Other recent deals include the $1 billion acquisition of Instagram and mobile gift card company Karma.

Facebook’s popularity among U.S. advertisers plunges post-IPO

Popularity of Facebook, the world’s largest social platform, has been declining post-IPO, as the U.S advertisers are shifting away from Facebook to place their advertisements over the internet.

[email protected]

Related News

Latest News

Latest News