Facebook acquires Bangalore-based app performance solutions startup Little Eye Labs for around $15M
Social networking major Facebook has acquired Little Eye Software Labs Pvt Ltd, which offers a performance analysis tool for developers that enables them to measure, analyse and optimise Android apps, the Bangalore-based startup said in a statement. While the transaction details are not officially disclosed, some media reports have pegged the amount at around $10-15 million.
Although Facebook has snapped US firms started by Indian entrepreneurs, this is its first acquisition in India.
Little Eye Labs was one of the startups that demoed at Techcircle DEMO India held in Bangalore in March last year. We are contacting Little Eye Labs' co-founder Kumar Rangarajan for more details and will update the story as soon as we get them.
"We cannot disclose more details, as we have signed a non-disclosure agreement (NDA) with Facebook. All I can say is that the process is still going on and the deal is not closed yet ," Little Eye Labs' co-founder Kumar Rangarajan told Techcircle.in.
Last month, there were reports that Facebook was in talks to acquire the company.
"With this acquisition, Little Eye Labs will join forces with Facebook to take its mobile development to the next level," the company said in the post. "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. For us, this is an opportunity to make an impact on the more than one billion people who use Facebook," it said.
Founded in May 2012 by a group of five programme analysis geeks—Lakshman Kakkirala, Kumar Rangarajan, Giridhar Murthy, Satyam Kandula and Aditya Kulkarni—Little Eye Labs develops tools that provide insights into an app and enables easy benchmarking. This happens without changing the code or integration. Its software also allows developers to understand the key performance attributes of the app, such as battery, network data and memory consumption. Little Eye Labs charges $500 per year or $50 per month per developer. A GSF Accelerator startup, Little Eye Labs allows monitoring of all apps built for Android 2.3 or later.
The firm had raised funding from GSF and VenturEast Tenet Fund. It released the official version of Little Eye for Android last April.
(Edited by Joby Puthuparampil Johnson)