Facebook Inc. (FB) acquired a technology startup in India as the largest social-networking service seeks to bolster its presence among mobile-device users.
Facebook bought Little Eye Labs, which develops tools that Android application developers can use to analyze and enhance the efficiency of mobile apps, the Bangalore, India-based company said on its website. Financial terms weren’t disclosed for Facebook’s first purchase in India, and Carson Dalton, the India spokesman of the Menlo Park, California-based company, declined to comment on the terms of the deal.
Billionaire Chief Executive Officer Mark Zuckerberg is stepping up efforts to help Facebook, the top seller of online advertisements after Google Inc., generate more of the company’s ad revenue from mobile. Ad spending by U.S. companies on mobile devices will account for 23% of digital-ad expenses in 2013, up from 12% in the previous year, according to New York-based researcher EMarketer Inc.
The company is “focused on producing useful and engaging mobile apps,” Subbu Subramanian, Facebook’s engineering manager, said in an e-mail statement. “The Little Eye Labs technology will help us to continue improving our Android codebase to make more efficient, higher-performing apps.”
Little Eye Labs, whose entire team will move to Facebook’s headquarters in Menlo Park, was set up about a year ago, according to the statement. Founded by Kumar Rangarajan, it received financing from angel investors GSF India and VenturEast Tenet Fund, according to Little Eye’s website.
Source: Mashable
Digitization over the years has turned into an overused buzzword and has created…
Read MoreWhen speaking of mobile app development, you must remember one thing – the…
Read MoreApple kicked off its Worldwide Developer Conference with a glimpse into the future…
Read MoreJoGo is not just a fitness app. It is an app that motivates you…
Read MoreApple is preparing to expand its presence in the mobile-payment space, according to…
Read MoreThe look and feel of apps today is changing continuously, not to mention…
Read MoreIt was only a matter of time before the world of apps extended…
Read MoreFriday night ahead, no plans yet? Wondering how would you meet someone? Try…
Read MoreAs we spend a lot of time on our smartphones now, it makes…
Read MoreAI chatbots have gained their foothold in the modern digital space as a…
Read More