Google acquires popular mobile application Bump
Mobile technology has become a major contributor in the technology world and any solution or new feature that can make your product stand out is going to gain attention and be coveted by the major hardware providers.
One of these is Bump Technologies. One of the most popular mobile applications on the market, Bump allows users to tap their phones together (hence the application's name) to exchange contact information. Bump raised nearly $20 million, but the company failed to capture consistent revenue. It was announced last week that Bump had been acquired by Google for an estimated $35 million.
"We strive to create experiences that feel like magic, enabled behind the scene with innovations in math, data processing, and algorithms," Bump's co-founder David Lieb wrote in a blog post. "So we couldn't be more thrilled to join Google."
According to a TechCrunch article, the entire 25-person Bump team, including Lieb and co-founder Andy Huibers, will be joining the search giant. By acquiring Bump Technologies, Google is also gaining rights to the collaborative photo sharing app called Flock, which was released last year. There is also the possibility that Google will gain access to the Bump Pay app, which allows PayPal users to "bump" devices and transfer funds. On top of that, there are also a number of mobile communication patents.
This is another example of a technology acquisition in which a major technology company acquired a third-party developer in an attempt to help their devices stand out. Having an exclusive app, as Google now does with Bump, can be enough to boost sales for the acquiring company.