September 22, 2014
Yahoo has bought Bangalore-based Bookpad for an estimated US $8.3M (50 crore) according to The Economic Times. The startup that's barely a year old is led by the same makers of Docspad, a service aimed at developers looking to add document viewing, annotations, and editing features within their own applications.
Founders Aditya Bandi, Niketh Sabbineni, and Ashwik Reddy were first backed by NASSCOM’s 10,000 Startups initiative and Microsoft Ventures, and in their last visit to Silicon Valley were being courted by Autodesk and Dropbox.
This is an interesting move for Yahoo, signaling an interest in moving into a space of online collaboration.
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