In a move that gives strong credence to India’s burgeoning software development industry, Facebook has laid out a sum between 10 million to 15 million dollars for Bangalore based start up Little Eye Labs.
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Mark Zuckerberg has succeeded in creating a lot of excitement in the Indian high-tech industry with the news that he has acquired Indian startup Little Eye Labs for what appears to be a bargain price of between $10 million and $15 million.
Little Eye Labs captured the attention of Zuckerberg and his development team at Facebook thanks to their mobile app analysis tools which have become a favorite among Android developers and testers thanks to their ability to measure, analyze and optimize the apps. performance.
Announcing the deal a spokesperson for Little Eye Labs stated their excitement to be given the opportunity to make an impact on the more than 1 billion people who use Facebook, through allowing them to improve performance of the social media giant’s ‘world-class infrastructure’.
Industry analysts have for long since been pointing out that Facebook’s mobile apps fall short of their major competitors, particularly Twitter when it comes to apps. performance.
According to the terms of the acquisition deal, Little Eye Labs entire development team will be saying bye-bye to Bangalore and uprooting to Facebook’s headquarters in Menlo Park, California.
Although their money being laid out to pick up Little Eye Labs is a real drop in the ocean for such a multi-billion-dollar concern that Facebook has become, its significance as far as the software development industry in India is concerned is close to earth shattering.
Till now, direct acquisitions from a high profile company such as Facebook have been very few and far between.
Indian companies will be sure to be hoping that Mark Zuckerberg’s entry will have broken the ice, and many other high-tech giants will follow suit.
A spokesperson for Facebook pointed out that the company became aware of Little Eye, who were only founded in 2012, and particularly their app optimization abilities simply because the company made a real effort to make themselves visible.
According to Sanjay Anandaram, who advises startups in Bangalore, the acquisition of Little Eye candy described a real breakthrough and guaranteed to draw attention to the potential of Indian companies, striving to make the transition from the more popular concept of being solely of source of services to entities which are capable of developing new technologies and products, particularly pointed towards the rapidly expanding mobile markets.
Particularly pleased about the takeover of Little Eye Labs will be venture capitalists VenturEast and GSF, who made initial investments in the company and now stand to enjoy a healthy return on their investment, particularly GSF who welcomed the team at Little Eye Labs to their first accelerator program last year.