Vancouver startups Foro and Truth, have been acquired by Fundamental Applications Corp, a publicly traded corporation. Founded by Vancouverite Ali Saheli, the acquisition (although for an undisclosed amount is rumoured to be a seven figure deal) will allow Ali and his team to take Foro and Truth the next level.
“During the past two years, we have been working extremely hard at Foro to build products that make people’s lives easier,” Saheli said. “Foro, a marketplace for students, is being used by thousands of students across the U.S. and Canada to buy and sell their items. We first set out with the mission to build a trusted mobile marketplace where students could sell their used items right from their smartphones and we are thrilled to work with Fundamental Applications to systematically launch Foro in regions with high student populations.”
Not only does this acquisition mean the future is bright for both Foro and Truth, but for the quickly growing startup and entrepreneurship scene here in Vancouver. We continue to show that we are capable of producing and supporting innovative and successful entrepreneurs!