Mobile Photo And Video Platform Mobli Acquires Pheed

Mobli, a Tel Aviv-based photo- and video-sharing platform that raised a $60 million round led by Carlos Slim almost a year ago, just acquired Pheed to boost its monetization capabilities. Pheed has 5 million registered users, while Mobli has 22 million. Neither company isn't disclosing daily or monthly actives and they declined to share to size of the deal, except to say that it was done with a combination of cash and stock. Mobli said it plans to invest $10 million in re-making Pheed, which will remain a standalone product. Mobli has been pegged as an Instagram competitor that features video and photo-sharing along with filters and direct messaging.
Kim-Mai Cutler

Kim-Mai Cutler is a Writer at Gigabuzz, focused on covering early-stage startups, especially those with a technology focus and great perks.

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