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
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 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 spend by U.S.
companies on mobile devices will account for 23% of digital-ad expense 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-mailed
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: http://mashable.com/
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