Nokia buys another social networking firm - Mobile World Live

Nokia buys another social networking firm

19 OCT 2009

Nokia has acquired another small social networking firm, this time spending an undisclosed amount on US-based Plum Ventures. The startup develops ‘cloud-based’ social media sharing and messaging services for private groups, targeting such communities as families, co-workers, neighbourhoods and schools. In a statement Nokia said Plum will “complement Nokia’s Social Location services” and the acquired assets will become part of its Services unit. Plum has a headcount of ten.

This latest deal for Nokia follows July’s acquisition of German social networking firm cellity for an undisclosed sum. Nokia has put a huge focus on its strategy of combining “services with high-quality devices” as it faces competition from traditional device manufacturers as well as new competition from the PC and Internet industries. Deals with the likes of bit-side, Loudeye, Twango, Enpocket and Plazes, as well as the US$8.1 billion it spent on digital mapping company Navteq in 2007, have seen its Internet services strategy focus on such key areas as music, games, messaging and location-based services. By 2012, Nokia is aiming to have 300 million users of its services, up from around 55 million today.

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