Team Uncertain After Nokia’s Rapid Acquisition
Nokia has acquired Rapid’s technology assets, including its API hub and R&D unit, but questions remain about the size of the SF startup’s team and whether they will all join the Finnish telecom company.
Like other telecom equipment makers, Finland-based Nokia has been seeking ways to monetize its 5G technology or diversify its offerings. The company is looking to capitalize on opportunities linked to the rise of artificial intelligence.
For Nokia, the answer seems to be the San Francisco-based startup Rapid: the technology and R&D team.
However, shortly after the acquisition was announced, Rapid’s chief technology officer, Andrey Bukati, wrote on X:
“Personally, while I’m thrilled for Rapid’s future with Nokia, I’ve decided to chart a new path and dive back into the early-stage startup life—a place where I’ve grown most.”
It is also unclear how many people still work at Rapid. The startup, once known as Rapid API, had a bumpy couple of years before the Nokia acquisition.
In a statement, Nokia emphasized the importance of Rapid’s skilled research and development team as part of the deal.
“I very much look forward to working with world-class R&D talent joining us from Rapid. Our Network API journey is getting even better,” said Shkumbin Hamiti, Nokia’s vice president of network monetization.
Rapid was once valued at $1 billion and backed by major investors like Andreessen Horowitz. The company connected developers to tens of thousands of APIs but faced sharp declines in recent years, including layoffs that reduced its workforce by more than 80%.
While the deal's financial details remain undisclosed, Rapid's reduced valuation suggests the acquisition may have closed at a fraction of its peak worth.
Despite the uncertainties, the move reflects Nokia's strategy to bridge technology and telecom in the 5G era, leveraging APIs to help operators monetize networks and engage a global developer base.
Nokia also highlighted the value of Rapid’s API technology, describing it as the world’s largest API hub used by thousands of developers globally and an enterprise-grade API framework for building and sharing APIs.
APIs, or Application Programming Interfaces, make it easier for different systems to communicate with each other. In telecom, standardized APIs let developers create apps that work across multiple networks without extra customization, saving time and cost. This is especially useful for 5G, where apps must work smoothly across global networks for a consistent user experience.