Why Facebook wants you to pay $1 for a new app
Facebook’s $1 per month “featured” mobile app, built by mobile app developer Mokr Apps, may be worth every penny for its developers.
The Wall St. Journal reported Tuesday that the company has raised $7.2 million from a group of investors led by New York investment firm Morgan Stanley.
Facebook said in a blog post that it had acquired the startup to help it grow its product offerings and accelerate its adoption.
It also said that the deal includes the rights to its apps for Android and iOS, and other products.
Facebook says it has invested $250 million in its mobile products.
For now, Facebook has focused its efforts on building its “apps for everyone” platform.
Facebook’s latest acquisition of Mokrs apps marks the company’s third major deal with a mobile app in the past month.
Last month, it acquired the French software company Mango, which was acquired by Facebook for $2.4 billion.
It added a second Mango app last month, and this month Facebook bought the U.K.-based mobile messaging app WhatsApp for $19 billion.
Mokr’s mobile apps have already been used by the likes of Instagram, Twitter, and YouTube, according to its blog post.
Facebook has previously built its mobile app offerings using its own mobile operating system, called “the cloud,” which is powered by its own server farms and data centers.