fomo acquires Mobula for $17M to internalize on-chain data

New York-based social trading platform fomo has acquired the proprietary technology and intellectual property of Mobula, an on-chain data aggregator, in a $17 million deal. The acquisition aims to bring data infrastructure in-house to support fomo’s rapid growth.

As part of the transaction, key Mobula personnel, including founder Sacha Marcus and CTO Sacha Delhoux, will join fomo’s engineering team. The acquired technology will be used to enhance data reliability and performance, specifically supporting features such as scam detection and social discovery tools.

fomo has experienced significant scaling, reporting over 1.9 million users and a projected monthly trading volume of $2.8 billion. The company is backed by major venture capital firms, including Index Ventures, Union Square Ventures, and Benchmark.