There are very few platform products in India. In fact, at the last bigMobilityConf, we showcased some of the upcoming app platform plays like pCloudy, BetaGlide and BugClipper. But the truth is that building a platform product from India is extremely difficult. Not only are we short of early adopters, which translates to lack of feedback loop, the truth is that we have a very limited customer base to target.
But, Facebook’s $11mn acquisition of Little Eye Labs (it’s actually $11mn and not $15mn as reported by mainstream media) changes it a lot. Going by the numbers, it isn’t a big acquisition – but is definitely one that brings a lot of global attention to Indian startups.
1. Backend Platforms
Investors aren’t really keen on backend platforms. In fact, if you look at the state of most platform products, they all end up as a services company. Plus, the growth of these companies is extremely slow – thanks to slow adoption cycle by corporates/customers.
We certainly hope that investors will start respecting and looking at backend platforms, as a potential play.
2. Importantly. App Developers
Indian App developers aren’t just ambitious enough.We hope and certainly believe that the chatter among app developer community will now move beyond technology and religion (i.e. iOS vs. Android vs. Windows vs. blah) to other important stuff like discovery/distribution and dollars.
The Indian app developers needed a local hero to look up to and for sure, they have got one in LittleEye team.
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