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.
After developing and marketing 1400+ amazing mobile apps for iPhone, Android, and Windows,…Read More
DisplaySearch projects that larger, higher-density displays are headed for Apple’s next iPhone in…Read More
Samsung’s latest financial results underscored slowing growth in the smartphone business and its…Read More
Since Apple released iOS 7, its completely revamped operating system for the iPhone,…Read More
VideoLAN today updated VLC for iOS with a slew of improvements, including a…Read More
Samsung’s forthcoming Galaxy S5 could feature eye scanning technology, according to reports, in…Read More
Apple aired a new iPad advertisement during the NFL playoff game between the…Read More
Here, at Affle Enterprise, our dexterous AppStuds love loads of coffee and are…Read More
Affle Enterprise started its journey in 2005 as a global mobility solutions provider…Read More