SingTel gets app happy with Pixable
Snaps up social pic streamer for US$26.5m
The acquisitive hand of SingTel has reached out to the US to buy smartphone happy snap app Pixable for US$26.5 million.
The social app was founded in 2009 by a group of MIT grads and boasts over four million users over the web, iOS devices and Android devices. The data smarts behind the app allows for the analysis of consumption habits and user relationships to prioritise photo streaming ranking accordingly through its feeds.
The acquisition shows that the dominant mobile carrier is actively looking for new revenue streams and deeper service offerings for its regional Asian and African mobile base of 462 million customers. Pixable CEO Inaki Berenguer, said the acquisition would “help bring Pixable to a wider audience, especially in emerging markets.”
Earlier this year SingTel made a few more significant acquisitions with the purchase of US advertising outfit Amobee for $321 million and the $9.4 million purchase of Singaporean food website HungryGoWhere.
Last year, SingTel Group's corporate venture capital, SingTel Innov8, which has been created to seek out these digital acquisitions invested AU$5 million in Dealised, the technology platform behind Australian group-buying player Spreets.
SingTel’s Group Digital L!fe, CEO Allen Lew said "one of the goals of SingTel Group Digital L!fe team is to develop next generation mobile services that make life easier for our mobile customers. It is not yet clear whether the service will still be offered as a standalone one or if it will be offered to Australian Optus customers.®