Yahoo has snapped up India-based startup Bookpad for $8.3m, joining the ranks of Facebook and Google that have also bought Indian startups.
Bookpad has created an enterprise software product, DocsPad, which allows users to view and edit PDF, ODT, ODP Powerpoint, and Word documents within the website or app without using any additional software or plug-ins.
Bookpad’s product focuses on enterprises rather than consumers and reports suggest that Yahoo might integrate DocsPad into its services.
Karnataka state’s secretary for information technology and biotechnology Srivatsa Krishna said: "Getting acquired by Yahoo puts Bangalore on the global startup map."
"We will do everything it takes to match Silicon Valley and become the world’s favourite startup hub."
The company founded by three IIT-Guwahati graduates, when they were in their early 20’s and got selected for the Startup Warehouse programme conducted jointly.
Microsoft Ventures also selected the company for its accelerator programme, which provided a boost to the company.
Yahoo has been on a startup acquisition spree, and after Marissa Mayer took over the company it has acquired more than 38 startups most of which have been dissolved.
According to sources the talks started in may May and following the deal the team will be moving to Silicon Valley.
