Is Facebook Trying to PIECE This Growth Strategy Together?
Facebook (NASDAQ:FB) has absorbed the small staff of software app service firm Pieceable Software Inc., which was created last year as a way to see software apps developed for Apple’s (NASDAQ:AAPL) iOS mobile platform through an Internet browser, rather than having to download and use them separately in a device.
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Terms of the deal haven’t been disclosed, but Facebook has hired the three engineers behind the start-up, which says it has so far served up demonstrations of over 800,000 apps.
“Facebook is not acquiring the company, technology, or customer data,” Pieceable said on the company website, adding that its service will continue running, without any changes, through the end of the year.
Facebook relies heavily on advertising for most of its revenue, but has been lagging behind in the mobile-advertising market, where it has yet to really capitalize on the increasing number of users accessing the social network from smartphones and using mobile apps. The Pieceable acquisition is only the latest in a series of acquisitions meant seemingly to help Facebook grow its mobile presence and tap into mobile revenues.
Shares of Facebook opened up at the bell another 50 cents higher at $27.90 on Wednesday.
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