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Facebook to Buy Mobile App Developer Snaptu

The social media giant, Facebook, has agreed to buy the mobile application developer Snaptu. Although the cost of deal is not yet public, according to insiders, the deal stands at $70 million. This move would expand Facebook's reach in the cellular phone market.

Snaptu creates applications for feature phones. In case you are wondering, feature phones are phones that are less powerful than the Smartphone. Feature phones make up about 69% of all phones in the United States. They also make up about 55 percent of the total number of phones sold in the United States annually.

The aim of Snaptu is to develop applications that can give feature phone users the same experience as smartphone users. It is estimated that more than 90% of phones in Asia and Africa are feature phones.

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