Facebook has announced its first acquisition in Israel, buying startup Snaptu for $60-70 million.
Snaptu's application allows mobile phones, even those less advanced than an iPhone or Android phone, to access mobile Internet.
Just this past June, Snaptu raised $6 million from venture capital firms Carmel Ventures and Sequoia Capital. Sequoia had already invested in the company.
Snaptu was founded in 2007 by CEO Ran Makavy, VP engineering Micha Berdichevsky, and CTO Barak Naveh.
will they allow Israel to use credit cards now?
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