Yahoo has acquired a Banagalore based start-up, BookPad, for a reported $15 Million, Times of India reported. The deal is reportedly worth 90 crores, ($15 Million)
The start-up which is a only an year old, was started by 3 IIT-Guwahati alumnus, and was rated as a promising start-up in Nasscom’s 10,000. Bookpad’s enterprise focused product, DocsPad, allows users to view any document (like PDF, Word, Powerpoint), and also edit and annotate it, within a website or app. It works across devices, and does not require downloading of plug-ins or desktop software.
The start-up is a part of Microsoft’s Accelerator program. Rajan Anandan, Google India MD, and a key figure in NASSCOM’s 10,000 start-ups said,
The acquisition by a global technology firm is a big validation for India’s product ecosystem. Over the next few years, we will have many $1-billion product companies as India’s capability to build product companies become prevalent and proven.
This recent Yahoo acquisition comes after those made by Google and Facebook. The former acquired Impermium, while the latter acquired Little Eye Labs. We have mailed BookPad and Yahoo for comments, and will update you as soon as we receive a response.
A recent Economic Times report claims the deal to be worth Rs.50 crores ($8.3 Million) and not Rs.90 crores ($15 Million). We are still speculative about the amount, and will report something, as soon as we receive a comment from either of the companies.