Yahoo has acquired Bookpad, whose flagship product Docspad, enables document embedding, annotations and editing in enterprise applications.
The Bangalore based startup has built an end to end document handling technology for the cloud.
Bookpad’s Docspad is different from Google docs as it integrates with several other applications (via API) and is a good fit for corporates who want to open up files inside applications (for e.g. applicant-tracking systems, FFle-sharing apps, conferencing solutions, Learning Management solutions etc).
Though several media outlets have called it a 50 crores deal, the acquisition amount stands at
over $1mn (undisclosed*. Founders will share details after the dust has settled). Yahoo India has made several investments in Indian Internet companies, but has had mixed RoI (CallEzee deal is off, Yahoo sold its stake in Bharatmatrimony).
Yahoo has a bad history with M&A (case study: Flickr) and we really wonder what’s the plan company has with Bookpad technology. For Yahoo SMB? Definitely not. Yahoo’s mobile strategy? Does it have one?
* : In cases like these, we bat for the founders.