Facebook Acquires Israel’s Snaptu For an Estimated $60-70 Million

Snaptu, the app store for feature phones

Facebook surprised with its first acquisition in Israel today, with the announcement that it is buying Israeli startup Snaptu (previously known as Moblica) for an estimated $60-70 million. Founded in 2007 by Ron Makavy, Micha Berdichevsky, and Barak Naveh, Snaptu raised a total of $9 million in three rounds Continue Reading

The Gifts Project leverages the social graph for real gift giving

The Gifts Project takes the concept of social shopping and applies it specifically to group gifting. Via a Facebook application, the service allows users to identify gifts that they would like to give/receive to/from friends for a particular occasion (e.g. birthday, anniversary), and then allows users to select up to 20 friends to contribute to the gift purchase. Continue Reading

MySpace Opens its Developer Platform – What will be the impact?

Trailing after Facebook, MySpace will announce the launch of its Developer platform today, by opening the MySpace Developer Site to app creators around the world. Applications will be available to the users one month from today. This move could level the application development arena,… Continue Reading