Internet major Yahoo! Inc. on 21 September 2014 acquired Bangalore-based start-up firm BookPad Inc for over 8 million US dollars. This is Yahoo's first technology deal for an Indian start-up company.
The acquisition involved the integration of technology and the team. After the complete acquisition, the team will relocate to the Silicon Valley.
This has been the fourth acquisition of an Indian start-up based in Bangalore by a global Internet company. Earlier, Facebook Inc. acquired Little Eye labs Pvt. Ltd in January 2014. In 2013, Google Inc. acquired Impermium and Naspers Ltd acquired online bus ticketing company redBus.in.
• Founded in 2013, the company has offices in California and Bangalore with less than 10 employees.
• It was founded by three Indian Institute of Technology Guwahati alumni Aditya Bandi, Niketh Sabbineni and Ashwik Battu with their own funds.
• The company was incubated at the Startup Warehouse of Nasscom and was also a part of the fourth batch of the Microsoft Accelerator programme.
• Bookpad's software product DocsPad allows users to view any document like PDF, Word, Powerpoint and also edit and annotate it within a website or app.
• DocsPad works across devices and does not require downloading of plug-ins or desktop software.
• For Yahoo, DocsPad technology can potentially be embedded in many of its services.
• Yahoo was founded by Jerry Yang and David Filo in January 1994 and was incorporated on 1 March 1995.
• Yahoo is an American multinational Internet corporation headquartered in Sunnyvale, California.
• It is globally known for its Web portal, search engine Yahoo Search, Yahoo Mail and its social media website.
• Till today, Yahoo has so far acquired over 100 companies.
Who: Yahoo! Inc.
When: 21 September 2014