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Nokia Buys Location-Based Social Net Plazes

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Nokia (NYSE: NOK) is continuing on its social media related acquisition trail: it has now bought out Zurich and Berlin-based social networking service Plazes. Terms of the deal were not disclosed.

SEE ALSO: Geo-Social Net Plazes Raises $3.5 Million

Founded in Dec. 2005, it had seed funding from business angels such as Esther Dyson and Marc Andreessen and then raised its first round of $3.5 million from from Doughty Hanson Technology Ventures. It has 13 employees. Plazes provides a location-based social activity service that people can use to plan, record, and share their social activities: why they are at a given location at a given time, whether in the past, present or future. Nokia will integrate this service into its own handsets. After an expected Q3 closing, Plazes will become part of Nokia’s Services & Software unit. More details in release.

Nokia has bought a slew of social networking and media services over the last year of so, including Twango, Enpocket, Loudeye and then its big buy of mapping company Navteq.

Jun 23, 2008 2:13 AM ET

Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Social Media, Technologies / Formats, GPS Navigation & Maps, Companies, Nokia, Countries, Europe, Germany, plazes

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