Boston, MA 02/11/2014 (wallstreetpr) – Facebook Inc (NASDAQ:FB) in a bid of bolstering and strengthening its mobile expertise is planning to venture into the UK markets by purchasing startups in London. The company has in the recent past been looking for opportunities to expand its mobile talent as it tries to increase its value in the market amid the increased competition in the social network platform.
Facebook earlier thought acquisition
It is being rumored that last month, Facebook Inc. (NASDAQ:FB) was in line to purchase intelligence company DeepMind but later pulled a plug on the deal as Google Inc. (NASDAQ:GOOG) later entered the race and swallowed the company for £ 400 million. It is also thought that Facebook was thinking of buying NaturalMotion which was later bought by Zynga Inc (NASDAQ:ZNGA) for 527million. Facebook currently boosts of huge cash reserves thought to be reaching highs of $11 billion of which it would wish to invest in profitable ventures.
UK offering better opportunities
UK seems to be one of the markets that Facebook would highly wish to invest as its startups have over time proved to be highly profitable with high levels of prospects and growth. London on its own has proved to be one of the top hot spots in mobile app development with huge potentials of growth thus the constant streaming of multi nationals in trying to acquire deals with startups.
Facebook Inc. (NASDAQ:FB) Chief executive officer Mark Zuckerberg having transformed the company into a first growing mobile company is looking to buy startups related with mobile apps in Europe. The massive development of the smartphone industry has already transformed the e-commerce industry and has knocked the gaming industry of its perch as the fastest growing industry. Soon it seems the toppling of online shopping industry could be next.
Facebook Inc. (NASDAQ:FB) dropped slightly on Monday trading session to clock in at 63.55 a slight drop of 1.20%
