Forbes Media has acquired photo-sharing application Camerama for an undisclosed amount.
The acqui-hire adds Camerama's founder, Salah Akram Zalatimo, to Forbes as vice president of mobile products, where he will focus on building the media brand's mobile strategy. Zalatimo founded the photo-sharing app, which is available on iOS and Android operating systems, in 2014.
“Forbes is not running the Camerama photo sharing app. We’re using the underlying technology of this for future Forbes apps," says Forbes chief product officer Lewis D'vorkin.
Other recent startup acquisitions include Sega Networks purchase of a majority stake in video-game developer Ignited Artists in February, and Twitter Inc.'s (Nasdaq: TWTR) deal for ZipDial Mobile Solutions, an Indian marketing company , in January.
Acqui-hiring is often the motive for startup acquisitions, a strategy we've seen from companies like Yahoo Inc. (Nasdaq: YHOO). For more on acqui-hiring, see PE Networking Habits Spark Reverse Acqui-Hiring.