Those of us covering tech news from India, woke up to this story this morning: Facebook is in talks to make its first acquisition in India. The social networking giant, according to a financial daily, is set to acquire Bangalore based Little Eye Labs and a deal is likely to be announced in a few weeks. We rang up a few people who could possibly tell us if it is true and some parts of the report doesn’t ring true. I’m going to go out on a limb and say that it is likely to remain a rumor.
First, what is Little Eye Labs? Little Eye Labs is a very promising startup from Bangalore. The company has made a performance analysis tool for Android developers that lets them analyze and optimize apps (demoed at NextBigWhat’s recently held bigMobilityConf).
iSpirt, the Indian software product think-tank which according to the report is facilitating the deal, has denied their involvement. From what we’ve heard, there was a rumor going around at ABAF, an Angel investors business forum in Mumbai the last month that Facebook was in talks to acquire Little Eye Labs. And some conclusions were wrongly drawn (which got amplified by copy/paste sites).
A deal can’t be expected to be announced in a “few weeks,” as the report says, because its December. If at all, it will be at least a month before things get moving in the United States!
From what we know, the discussions are in extremely early stage yet and too early to even call it anything substantiative. Of course, there were at least a dozen copy paste jobs on the web. You know how much to trust when some of them think that Facebook has acquired “Instagram, Snapchat among others.” (Wonder how they missed the Zuckerbro letter!)
Aside, this is one case where we’d be happy to be proven wrong.