Nokia Buys Out Twango

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[ Social Media]

Twango’s all about sharing media, whether it’s a photo, an audio clip, or a video.  But Twango will likely gain a special focus on mobile media sharing, as the company was just acquired by Nokia.

“The Twango acquisition is a concrete step towards our consumer Internet services vision of providing seamless access to information, entertainment, and social networks – at any time, anywhere, from any connected device, in any way that you choose,” said Anssi Vanjoki, Nokia’s Executive Vice President and General Manager of Multimedia, in a press release.

Jim Laurel, Twango’s co-founder, echoed that sentiment, stating, “Nokia’s unique vision for social media aligns perfectly with Twango.”

The companies appear to share an enormous dream; a vast amount of money will have to be spent in order to achieve it.  But as buying Twango represents just one stride, it didn’t hurt Nokia’s wallet too much – Nokia’s market cap is currently almost $118 billion, and the Wall Street Journal’s Cassell Bryan-Low reports, “The exact size of the deal isn’t clear, but it is expected to be less than €70 million ($96.8 million) . . .” 

According to Bryan-Low, Nokia will offer some free Twango-related services, and charge for others; as with any new enterprise, it remains to be seen if anything will catch on.  Yet Marketing Pilgrim’s Andy Beal is already taking time out of his day for Twango, and that can’t be a bad sign.

Nokia Buys Out Twango
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