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June 04, 2014

Facebook Acquires Pryte

Acquisitions are an integral part of the corporate world, as it helps companies to pool in their expertise and emerge stronger than before. One company that is well-known for its many acquisitions is Facebook. This largest social networking company in the world has spent $22 billion on disclosed acquisitions. It is estimated that the company has acquired more than 45 companies around the world to further its own growth.

Recently, it acquired a Finnish company, Pryte, though the sum was not disclosed.  Pryte is a small company that was founded only last year, and it has not started offering its services yet. Pryte's goal is to offer data plan services to third world countries- where the high cost of internet makes access to the web extremely difficult. Pryte's product is believed to help underprivileged individuals around the world buy data passes that can be used on their smartphones.

Pryte's data passes can be crucial for the future because connectivity is the key in keeping up with the technological world. Currently, consumers solely depend on mobile operators for connectivity through their smartphones, and this situation sometimes gives an unfair advantage to mobile operators- especially those who are monopolizing a particular market. The idea of a data pass puts pressure on mobile operators to decrease their costs, and to focus more on customer satisfaction. As for the users, this is an advantage because they have the opportunity to control their personal data usage.

With Pryte's product, customers can buy mobile data from their smartphone, similar to the way apps are currently being purchased. Pryte offers its access cards as bite-sized app-specific data packages based on the usage needs of different consumers. Therefore, users do not have to pay excessively for the data that they are unlikely to use.

This innovative product is likely to change the future of connectivity in third world countries, and Facebook is one of the companies that is sure to gain with increased connectivity. 

 


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