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Facebook Acquires Bangalore Based Startup Little Eye Labs
The most popular social networking site, Facebook has now acquired Bangalore based Little Eye Labs. The little Indian start up company analyzes data to strengthen its mobile services globally.
"This is Facebook's first acquisition of an Indian company, and we are happy to become part of such an incredible team," Little Eye said in a statement on its website.
The billion dollar worth social networking site haven't spoken about the terms of the deal so far. However, media reports suggest the price was less than $15 million. A Facebook spokesman said the company would not comment on the terms of the deal.
It should be noted that this is the first ever Indian company that Facebook has acquired. The social site's move is understandable as it is focusing on reaching more number of mobile users which is increasing as smartphone and tablet users are increasing day by day.
Talking about the Little Eye Labs, it has built a software tool to analyze the performance of apps on Google's Android software platform. The tool analyzes data on users, the power consumed and the memory taken by the apps on cellphones and tablet computers.
Reportedly it was said that the eight-member of the Little Eye team will move to Facebook's headquarters. However, the company is also reportedly said to continue its services to other software developers apart from Facebook until June 30.
The small startup which was founded in 2012 by five engineers who had worked together at International Business Corp. with an initial investment of $200,000.