Mozilla, known more for its Firefox web browser, has recently made its first acquisition by purchasing Pocket, a read-later service for an undisclosed sum.
Pocket provides an app that lets users save links from the Web to the reading list that users can access on any device. The Pocket app has been around for more than 9 years with around 10 million monthly active members and over 3 billion items saved. The app had previously raised at least $14.5 million in funding and currently to generate revenue, the app also hosts and delivers ads and analytics and also sells premium subscriptions.
Coming back to the acquisition, Pocket will continue to operate independently and function as it did prior to the acquisition. On the other hand, Mozilla has said that it will leverage Pocket's core team to improve its Context Graph project, which is a recommendation engine for search.
Mozilla's objective will be to use the contextual information gathered about users preferences and suggest them more relevant content online. This function will be based on the user's search histories, preferences and frequently read content.
As of now this the latest updates we have received, we will keep you posted on the latest developments as and when get the updates.