Facebook acquires Bangalore-based startup Little Eye Labs
Posted By : Animation Galaxy At 08-01-2014 18:04:45
Tags : Facebook Little Eye Labs
Social media giant Facebook has confirmed that it has acquired a Bangalore-based product startup, Little Eye Labs, for an undisclosed amount. This is the US-based company’s first acquisition in India.
According to industry sources, the deal is valued between $10 million and $15 million.
Little Eye Labs builds performance analysis and monitoring tools that identify and fix performance problems for Android app developers.
Earlier this year, the product company had received investment between $100,000 and $200,000 from early-stage start-up incubator GSF Accelerator. GSF's Brij Bhasin is an advisor to Little Eye Labs.
“Today, we're very excited to announce that Facebook is acquiring our company. With this acquisition, Little Eye Labs will join forces with Facebook to take its mobile development to the next level!” Little Eye Labs Co-Founder Kumar Rangarajan said in a blog post on the company’s website.
“From there (FB headquarters), 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,” he said.
Little Eye Labs was founded about a year ago by a bunch of program analysis geeks who wanted to build better tools for Mobile developers and were later backed by GSF and VenturEast Tenet Fund.
Little Eye Labs is a start-up founded in May 2012 by four Bangalore-based programme analysis geeks - Giridhar Murthy, who has worked at Apple Inc earlier; Kumar Rangarajan, who has worked at IBM and HP; Satyam Kandula, an IIT Kharagpur alumnus; and Lakshman Kakkirala, who has also worked at IBM, besides Yahoo!
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. According to Little Eye Labs, this is an opportunity to make an impact on the more than 1 billion people who use Facebook.
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