Apple (AAPL) Acquires Chomp to Make Applonian’s Lives Easier
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Price: $166.90 +0.64%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
EPS Growth %: -0.7%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
EPS Growth %: -0.7%
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Reports Friday indicate Apple (Nasdaq: AAPL) recently purchased the app search and discovery platform known as Chomp.
Chomp helps customers find the right app for them by making the search easier. Chomp offers searches for both iOS and Android users, and currently has a contract with Verizon (NYSE: VZ) to control all of the company's Android app searches.
According to TechCrunch, Ben Keighran, Chomp’s CEO and co-founder, and Cathy Edwards, Chomp’s CTO, will be moving to Apple as Apple purchased both the company and its team of over 20 employees. 9To5Mac said both have already transferred to the Apple team. Keighran was positioned in the iTunes marketing team and Edwards joined as a senior iTunes engineer.
This acquisition may be just the beginning of Apple’s plan to use some of its $100 billion, which CEO Time Cook, at the Annual Shareholder Meeting Thursday, noted was more than the company needed to operate efficiently.
Chomp helps customers find the right app for them by making the search easier. Chomp offers searches for both iOS and Android users, and currently has a contract with Verizon (NYSE: VZ) to control all of the company's Android app searches.
According to TechCrunch, Ben Keighran, Chomp’s CEO and co-founder, and Cathy Edwards, Chomp’s CTO, will be moving to Apple as Apple purchased both the company and its team of over 20 employees. 9To5Mac said both have already transferred to the Apple team. Keighran was positioned in the iTunes marketing team and Edwards joined as a senior iTunes engineer.
This acquisition may be just the beginning of Apple’s plan to use some of its $100 billion, which CEO Time Cook, at the Annual Shareholder Meeting Thursday, noted was more than the company needed to operate efficiently.
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