It is no secret that Apple is extremely rich, but how rich exactly? According to the latest reports, Apple's cash reserves could be as huge as US$150 billion. That much money can buy you lots of companies and that was exactly what Apple did. In Apple's second quarter earnings call, CEO Tim Cook revealed that they have acquired 24 companies in the past 18 months and they are not stopping there.
This year, Apple has already added SnappyLabs, a company that produced a burst-fire app, and Burstly, the company responsible for Testflight iOS beta testing, to their portfolio.
Other companies that have been acquired by Apple include mapping apps Broadmap, Embark, HopStop, Locationary and WiFiSlam.
The technology from these acquisitions will likely be introduced in future products and updates. This comes at a time when Apple is under heavy pressure to deliver the next big thing, something that has been missing since Apple introduced the first generation iPad back in 2010.