FP Staff Jan 09, 2014 09:30:21 IST
India's startup scene broke new ground today as social media behemoth Facebook acquired Bangalore-based Little Eye Labs for an undisclosed sum. The deal was confirmed by aFacebook spokesperson who said, "We are not going to comment on the terms of the deal."
The Business Standard reportsthat the Indian product startup creates performance analysis tools that help Android app developers and testers fix problems. The tools allow optimisation of resources using detailed insights about the workings of the app in question.
Industry sources value the deal between $10 million to $15 million.
The Little Eye Labs blog shares the future plans of the company, stating, "The entire Little Eye Labs team will move to Facebook's headquarters in Menlo Park, California. From there, we'll be able to leverage Facebook's world-class infrastructure and help improve performance of their already awesome apps. For us, this is an opportunity to make an impact on the more than 1 billion people who use Facebook."
The year-old startup, which received early stage funding from GSF Accelerator, is the brainchild of four Bangalore-based analysis experts who have worked at some of the world's biggest tech companies -Giridhar Murthy (Apple Inc); Kumar Rangarajan (IBM and HP) ; Lakshman Kakkirala (IBM and Yahoo!) andSatyam Kandula, an IIT Kharagpur alumnus. Rangaranjan is the current CEO of the company.
Read the entireBusiness Standardarticle here.
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