Yahoo has bought a Bangalore-based startup called Bookpad, which helps developers let users view, organize and collaboratively edit documents from within their apps.
The value of the deal is unclear – the Times of India has it at $15 million while sister publication the Economic Times says the price was around $8.3 million – but either way it’s a good result considering the company is just a year old. According to the Economic Times report, [company]Autodesk[/company] and [company]Dropbox[/company] were also sniffing around the firm.
Bookpad’s DocsPad product will allow [company]Yahoo[/company] to include [company]Google[/company] Docs-style advanced document-handling capabilities into its various apps, without the need for plugins (it uses HTML5). According to a June blog post, DocsPad can work with “Word, Powerpoint, Excel, PDF, ODT, ODP, ODX, ePub 2.0 and all common image formats.”
The company’s founders have worked for such companies as [company]Amazon[/company], [company]Microsoft[/company] and [company]Symantec[/company] – they began their firm using savings, and Bookpad has reportedly raised next to no outside money to get where it is. The company has six employees, who will join Yahoo’s Bangalore engineering team.
As [company]Facebook[/company] bought app analytics and monitoring company Little Eye Labs and Google bought anti-spam outfit Impermium earlier this year, with both startups coming out of Bangalore, there is understandable excitement over the city’s growing profile in the tech world. “We will do everything it takes to match Silicon Valley and become the world’s favourite startup hub,” Karnataka state IT chief Srivatsa Krishna said, according to the Economic Times.