Yahoo 8.3 million to buy Indian start-up company Bookpad

NetEase Science and technology news September 22, according to foreign media reports, located in the southern Indian city of Bangalore (Bangalore), the start-up company Bookpad has become the first Yahoo acquisition of the Indian technology start-up company, the Indian company from the creation to the acquisition of only a year. The acquisition is about 8 months from the Little Eye Labs, a social-networking giant, snapping up Bangalore.

The source said that Yahoo has bought Bookpad, the transaction price of about 8.3 million U.S. dollars. So far, Yahoo has bought more than 100 companies. "The deal has been completed, and the team of startups Bookpad will soon be transferred to Silicon Valley," the source of the deal said, "Autodesk and Dropbox and other big companies have also been eyeing bookpad." ”

Bookpad was created by the Graduate Nicholds Sabillenil (Niketh sabbineni), Guvahati (Aditya Bandi) and Ashwick Reddy (Ashwik Reddy) of the Indian Polytechnic School (Iit-guwahati), The company has rivals such as Google and Crocodoc in its document browsing business. Negotiations between the two sides began in May this year when Sabillenil to Silicon Valley in the US to talk to Yahoo executives.

Yahoo did not comment on the above news, and several Bookpad founders declined to comment.

This January, little Eye Labs, located in Bangalore, became the first Indian company to be bought by Facebook. Rajan Anandan, general manager of Google India, a top angel investor Rajan Anans, said that companies such as Bookpad and little Eye labs were warming up to achieve bigger deals.

"It was the first day of the test race. They have just entered the stadium and are warming up. "The game is going to start, and it's going to be an exciting and explosive game," Anandan said. Anandan said that there had been a product company with a value of $ billions of, such as Zoho and InMobi. India will create a lot of products worth more than 1 billion dollars, and hundreds of products companies will be valued at 10 million US dollars to 100 million dollars. Like Google Docs, Bookpad enables consumers to create and format text documents online and collaborate with others in real time. What distinguishes the company from its global rivals, however, is that it allows companies to promote their brands as they need to modify their products. "It (Bookpad) seems to be a newborn baby that we have been nurturing," Lavis Gururaj Ravi Gururaj, chairman of the Nasscom Product Committee of the Indian Association of Software industry and services companies. They have technology, talent and motivation. ”

Ashok Madalavini Ashok madaravally, senior manager of the Indian Association of Software industry and services companies, maintained close cooperation with bookpad from the outset, saying that "the acquisition will prove that large companies are willing to carry out such a deal when the technology is useful to them." "Bookpad has a team of 8 people, earning 10 million rupees (about 164,000 dollars), with a focus on the U.S. market," he said.

"Yahoo's takeover has allowed Bangalore to join the map of global start-ups," said Srivatsa Krishna, an information and biotechnology official at the Karnataka, India, Srivitsa Krisna. "We will make every effort to catch up with Silicon Valley and become the world's favorite entrepreneurial center." "Yahoo is famous for acquiring startups," says Gururaj of the product committee of the Indian Association of Software industry and services companies, "and we hope [Yahoo] will implement more deals like Bookpad now with the cash reserves that Alibaba is listing." ”

Unlike the general start-up companies in India that need to be confronted with consultancy guidance and funding, Bookpad from the outset to nurture nasscom and the state of Karnataka. (Tianmen Mountain)