11 September 2009

Nokia Has Acquired Small Social
Networking Specialist Plum Ventures, Inc

Last weekend we briefly informed you that Nokia is looking to increase its investment in the development of its Internet services, and looking for acquisitions of small privately-held companies with talented teams developing services that Nokia itself plans to offer in the future and small social networking specialist Plum is its first ‘victim’!

Nokia and Plum today announced that Nokia has acquired certain assets of Plum Ventures, Inc, a privately held company which employed approximately 10 people with main offices in Boston, Massachusetts. Plum will complement Nokia's Social Location services and acquired Plum assets will become part of Nokia's Services unit.

Plum, which is backed by Vulcan Capital and Levensohn Venture Partners, touts technology for creating social networking groups on Web sites, and counts travel search engine Mobissimo and the Massachusetts Institute of Technology among its early adopters.

Plum develops and operates a cloud-based social media sharing and messaging service for private groups. Plum-powered groups are ideally suited for families, co-workers, neighborhoods, sports, schools, faith and any other existing social group.

The company has offices in San Francisco and Boston and is privately held. For more information please visit, www.plum.com