1-year old Indian based startup Little Eye Labs has been acquired by the social networking giant Facebook.
Little Eye Labs said on the site
Today, we’re very excited to announce that Facebook is acquiring our company. With this acquisition, Little Eye Labs will join forces with Facebook to take its mobile development to the next level!
Little Eye Labs was founded last year and was backed by GSF & VenturEast Tenet Fund. Little Eye Labs is majority-owned by its team of 8, including the 5 founders. After acquisition, the team will move to Facebook’s headquarters in Menlo Park, California.
The deal will help Facebook in its push towards the mobile environment at a really cheap price. Although the terms were not disclosed, but reports suggested that the price was between $10 million to $15 million.
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