Facebook Buys Again!
Facebook is becoming the Cisco Systems Inc. (Nasdaq: CSCO) of mobile application acquisitions. (See Cisco to Buy Lightwire for $271M.)
On Thursday, the company bought TagTile, a mobile loyalty and rewards startup, for an undisclosed sum. San Francisco-based TagTile offers retailers a hardware reader, in the form of a white cube, that can earn customers points when they tap their iPhone -- loaded with the free app -- against it.
Of course, TagTile pales next to the $1 billion deal, announced Monday, for photo sharing startup Instagram. Facebook spent $68 million on acquisitions last year, according to the Inside Facebook blog.
Why this matters Facebook is buying both mobile users and talent with these latest acquisitions as it looks to get deeper into wireless. The firm has also been updating its own apps for better functionality on smartphones.
- 5 More Mobile Apps That Could Get Acquired
- Facebook's App Attack: What's Instagram Worth?
- Mobile Bubble, Mo' Trouble
- Oh Snap! Facebook to Buy Instagram for $1B
— Dan Jones, Site Editor, Light Reading Mobile