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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
TechPointCloud

Mozilla Just Bought Popular Newsreader App Pocket

By
Jonathan Vanian
Jonathan Vanian
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By
Jonathan Vanian
Jonathan Vanian
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February 27, 2017, 4:16 PM ET
A screen displays the logo of the open-s
A screen displays the logo of the open-source web browser Firefox on July 31, 2009, in London, as the software edges towards it's billionth download within the next twenty four hours. First released in 2004, the browser currently holds around 31 % of the market share with Microsoft's Internet Explorer dominating the field with 60 %. AFP PHOTO/Leon Neal (Photo credit should read LEON NEAL/AFP/Getty Images)Photograph by Leon Neal — AFP/Getty Images
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Evernote couldn’t make this acquisition happen, but Mozilla did.

The Internet browser company said Monday that it bought the startup Read It Later, makers of the popular app Pocket, which people use to save web content for later readings and viewings.

Financial terms of the deal were not disclosed.

As a result of acquisition—which Mozilla said is its first—the team behind Pocket will operate as an independent Mozilla subsidiary. The core product will become part of Mozilla’s open-source portfolio of software that coders can alter and contribute to for free.

“We’ve really enjoyed partnering with Mozilla over the past year,” the startup’s CEO Nate Weiner said in a statement. “We look forward to working more closely together to support the ongoing growth of Pocket and to create great new products that people love in support of our shared mission.”

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Mozilla said approximately 10 million people actively use the Pocket app each day across various mobile operating systems, including iOS, Android, and traditional desktop computers.

“Pocket provides people with the tools they need to engage with and share content on their own terms, independent of hardware platform or content silo, for a safer, more empowered and independent online experience,” said Mozilla CEO Chris Beard in a statement.

With the acquisition, Mozilla gains a popular app well-beloved by its users. Still, it’s often the case that when a bigger company acquires a much-loved app, the larger company eventually loses interest in maintaining the app—or decides to incorporate its features into its own products.

https://twitter.com/hunterwalk/status/836299180381392896

Last year, for example, Microsoft (MSFT) said it would shut down the popular online calendar management app Sunrise after buying it in 2015. The decision to shutter Sunrise led to several of its customers publicly complaining.

For more about apps, watch:

As of now, Mozilla said nothing will change, and people will still be able to use Pocket as they currently do.

About the Author
By Jonathan Vanian
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Jonathan Vanian is a former Fortune reporter. He covered business technology, cybersecurity, artificial intelligence, data privacy, and other topics.

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