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Facebook Buys Israeli Start-Up App Developer, Onavo

By Warren Paige

Facebook (NASDAQ: FB) has agreed to acquire an Israeli start-up app maker, Onavo for an undisclosed sum. Onavo, which was founded three year ago, develops mobile utility app, helping users to cut phone costs through more effective use of data. According to Calcalist, a financial website, the online social networking giant is paying between $150 million to $200 million. After the deal is closed, Onavo app will continue to remain as a standalone brand. The deal marks Facebook’s biggest ever acquisition in Israel. Shares, however, fell on Monday. At last check, shares were down 2.20% to 48.03.

October 14th, 2013 | Tags: | Category: Social Media Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.