West Hollywood social media curation service Opinit has agreed to be acquired by Canadian app developer Fundamental Applications Corp.
Opinit declined to share the terms of the deal, which was announced on July 28.
Fundamental Applications, which operates an online marketplace geared toward students called Foro, plans to integrate Opinit’s technology into its website and app.
Opinit’s app, which has 30,000 users, lets users discover and rate content using emojis. The company was founded in 2014 by Chief Executive Paolo Fidanza and Qualid Ladraa, its chief marketing officer.
“Under the Fundamental umbrella we will be able to fast track the platform adoption and user growth,” said Fidanza, in a statement.
Brandon Korff, the grandson of media mogul Sumner Redstone, joined Opinit as a strategic adviser last year. As part of the transaction, Fidanza will join Fundamental’s board as chief strategy officer. Ladraa and Korff will join its advisory board.
Finance reporter Caroline Anderson can be reached at [email protected]. Follow her on Twitter @Caroline_Mander.