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

VC Cafe

Facebook surprised with its first acquisition in Israel today (and its second acquisition outside of the US), with the announcement that it is buying Israeli startup Snaptu (previously known as Moblica) for an estimated $60-70 million. The acquisition is supposed to close in a few weeks. source: [link].

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Janvest Wants to Fill the Seed Investment Gap in Israel (Interview)

VC Cafe

In addition, we are working with more modest capital, for example, the current fund we are putting together (first of many), is $5.0M, which will be used to invest up to $500K in approximately 10 seed stage companies in the Internet, software, telecom, security/defense and alternative energy sectors.