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Mozilla Corporation acquires Pocket in a ‘strategic deal’

Mozilla Corporation has acquired Pocket, a browser extension that allows users to save and retrieve links, documents, videos, etc. for an undisclosed amount.  As part of the “strategic deal” Pocket will become a wholly owned subsidiary of Mozilla Corporation and will additionally be included in the Mozilla open source project.

This is Mozilla’s first ever acquisition and the company mentions that Pocket will become a part of its product portfolio alongside Firefox browsers. Earlier in June 2015, Mozilla integrated Pocket into all versions of Firefox browsers (mobile and PC) by default. The company added that the acquisition will now allow it to focus on its mobile strategy and improve discovery of content for browser users. Additionally, Pocket’s core team and technology will help improve Mozilla’s Context Graph initiative—a recommendation system for web users.

Pocket claims 10 million active users

Pocket was originally founded in 2007 and is currently available for iOS, Android, Windows, Blackberry, PC, Mac and other e-readers. The app allows users to save and organize links and view it later on a PC, mobile or an e-reader device. It claims to have over 10 million monthly active users with integration support for several platforms like Flipboard, Twitter, etc. According to crunchbase, the company has raised more than $14 million is three different rounds with investors like Axel Springer, Baseline Ventures, Foundation Capital among others.

Speaking on the acquisition, Pocket’s CEO Nate Weiner said in a blog that Pocket’s extension “has been clicked over 3 billion times” and that the company will continue as an “independent subsidiary of Mozilla Corporation”. “We’ll be staying in our office, and our name will still be on the wall. Our team isn’t changing and our existing roadmap has been reinforced and is clearer than ever,” he added.

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Competition

According to data from statscounter, Mozilla stands 4th among the top browsers globally, holding a 6.73% market share. Its market share dipped from 7.78% as of August 2016, when it held the third position. Alibaba-owned UCBrowser later overtook Firefox as the third most used browser in October 2016; note that UCBrowser has made significant investments in India and other countries post its acquisition by Alibaba. The first position is held by Chrome (52.3% share), the second position is held by Safari browser (14.4% share), while Opera, which was recently bought by a consortium of Chinese investors’ holds 6th position globally with 3.79% market share as of February 2017.

In India, Mozilla is at number four, with UC Browser with around 43% of the market, Chrome with around 35.5%, Opera with around 9%, and Mozilla’s Firefox with around 3.7% of the market.

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