Facebook acquires data-saving service Onavo to speed up its mobile apps

For more than three years, Onavo has plied its trade reducing internet costs for smartphone users. Facebook knows that data-shrinking is key to its founder's plan to connect the world, which is why it's bought the Israeli startup. Under Facebook's guidance, Onavo will work with members of the Internet.org coalition to increase the efficiency and lower the cost of web access. If you're an Onavo user and are worried that its apps are about to disappear, worry not, for the company will continue to operate under its own brand. Expect Facebook's apps to get a speed boost in the future, helping it deliver its growing influx of ads.