Facebook buys VC-backed Indian start-up Little Eye Labs
Facebook has acquired Ventureast and GSF Superangels-backed start-up Little Eye Labs, reportedly paying around $15 million for the Android app optimizer.
Little Eye's software provides mobile app performance analysis and monitoring tools that help developers benchmark and optimize consumption of system resources, such as power, wireless data, GPS, disk consumption and memory.
The Bangalore-based company was founded in May 2012 and received about $400,000 in seed funding in March 2013 from GSF and the Ventureast Tenet Fund, which owned 15% and 10% of the start-up, respectively.
Subbu Subramanian, Facebook's engineering manager, said in a statement that the Little Eye Labs technology will help the social network improve its Android codebase to make more efficient, higher-performing apps. The entire team will move to Facebook's headquarters in Menlo Park, California.
Facebook has been making acquisitions to boost its mobile offering as an increasing number of users access the site from handheld devices. In 2013 it bought cloud app platform Parse and Tel Aviv-based mobile analytics company Onavo. Little Eye is its first Indian acquisition.
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.