Bookpad, a Bengaluru-based tech startup has become the first Indian tech startup to be acquisitioned by internet giant Yahoo for $15 million. This comes just days after business intelligence provider Nielsen acquired Indicus Analytics.
Bookpad was founded in 2013 by IIT Guwahati engineers Aditya Bandi, Niketh Sabbineni and Ashwik Reddy. It was backed by NASSCOM’s 10,000 Startups Initiative and Microsoft Ventures accelerator. The tech startup’s flagship product Docspad deals with document embedding, annotations and editing in enterprise applications.
“We built Docspad for a singular purpose: any app out there that deals with documents should be able to let the users open, edit and collaborate on those documents, from right inside the app. With Docspad, we’re helping to build a web where no one needs to download any document,” said co-founder and CEO Bandi in the company’s blog.
Bandi further adds that Docspad is aimed at developers who can improve applications to bring them level with the user experience of Google Docs.
Earlier this year, social networking heavyweight Facebook acquired another Bengaluru startup Little Eye Labs that makes testing and analytical tools for Android developers to boost app performance.
After a string of heavy investment from global players, acquisitions seem to be the new trend in the startup industry. From homegrown veterans to international names, entrepreneurial efforts are being recognized and given better platforms to shine. Steps like NASSCOM’s Innotrek program that gave Indian startups a place to showcase themselves in Silicon Valley. Incidently, Bookpad was one of the startups that was part of Innotrek’s first trip to Silicon Valley.
