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Facebook acquires fitness tracking mobile app Moves

24
Apr
2014

By Alexei Oreskovic SAN FRANCISCO (Reuters) – Facebook Inc has acquired the maker of a mobile app that can track the distance consumers walk or run and measure the calories burned, giving the social networking company an entree into the nascent market for fitness and health monitoring technology. Facebook did not disclose the price it paid for ProtoGeo Oy, the 2-year-old Helsinki company that makes the Moves app. A Facebook spokesman said the price for ProtoGeo, which has fewer than 10 employees, was not anywhere near what the company had paid for other higher-profile acquisitions recently. Facebook has begun 2014 by going on a shopping spree, paying $19 billion for mobile messaging service WhatsApp in February and $2.3 billion for virtual reality headset maker Oculus VR a couple of weeks later.

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