Apple Acquires SnappyCam in Latest Company Buyout

In one more buyout in which Apple keeps the competition down, the mega computer company purchased the company that created the popular photography application SnappyCam. The purchase of SnappyLabs is one more in a series of acquisitions and buyouts by Apple which keeps them current with the latest technology without requiring Apple itself to introduce anything new.

Apple Buys Popular App SnappyCam
Apple Buys Popular App SnappyCam

Users can purchase SnappyCam as a $1 app which upgrades their mobile phone’s camera functions. SnappyCam adds several useful functions, but it’s most well-known and popular is allowing a smartphone to take pictures in quick succession by holding down the on-screen shutter-button.

The tech blog TechCrunch first reported the Apple’s most recent purchase, but the amount of the buyout is still unknown. The buyout is further proof that Apple has diverged from the company’s traditional custom of avoiding acquisitions while Steve Jobs was the CEO. It appears that the company buyouts are taking the place of innovation as competition in the app marketplace only increases.

Apple has been teasing the marketplace with a soon-to-be-but-yet-to materialize smartwatch and TV product. The iWatch is due for release in late 2014, buy a Samsung iWatch has already hit the market. The response to the buyout of SnappyLabs was a 22 percent downturn in Apple’s share price, closing at $540.98.

In 2013 Apple purchased 11 companies. In 2011, the last year Jobs ran Apple the company only purchased two tech firms. In 2009 they bought one company, a music service known as Lala.com because it was in completion with Apple’s own platform iTunes. Apple predictably closed down Lala.com and maintained its tight hold on music delivery. In 2010 Apple bought-out four companies.

Peter Jefferson

About Peter Jefferson

Peter Jefferson is a full-time researcher for www.businessdistrict.com, a task he took on in 2011 when the site was launched. He brings to the position a wealth of practical experience in the field of fiscal policy, having consulted with various government bodies on revenue collection, expenditure and economic growth. Contact Peter at peter[at]businessdistrict.com