Facebook's first acquisition in India: Little Eye Labs
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Facebook has acquired Bangalore-based start-up Little Eye Labs, a company that develops a tool that helps Android app developers to measure, analyse and optimise their apps, making it the social networking giant's first acquisition in India.
This is one of the most high profile acquisitions involving an Indian product start-up, in a development that could go a long way in boosting the confidence of the fledgling tech newbies.
While Facebook declined to comment on the terms of the deal, it is estimated to be between $10 million and $15 million. Facebook confirmed the acquisition on Wednesday with its engineering manager Subbu Subramanian saying, "Little Eye Labs is a company that produces world-class technology and helps developers build more efficient products with Android."
"This is an opportunity to welcome some of the industry's most talented engineers to our team in Menlo Park, California. Facebook is focused on producing useful and engaging mobile apps. The Little Eye Labs technology will help us to continue improving our Android codebase to make more efficient, higher-performing apps," said Subramanian.
The acquisition is expected to help the overall mobile strategy of Facebook with a technology that could help track and improve the performance of Facebook Apps. "While from a Facebook perspective it could be a small step to look at India market for acquisition, but it's a giant for the Indian start-up ecosystem," said Praveen Bhadada, director-market expansion at Zinnov, a technology consultancy.
Little Eye Labs was founded in May 2012 by a four-member team that has previously worked in MNCs and is currently a seven member team. "This has been a fun and exciting journey. We are eager to be working alongside the incredible team at Facebook and together we will continue on our mission of building analysis tools to aide in the development of brilliant apps," Little Eye Labs co-founder Kumar Rangarajan said.