Flipkart CEO Sachin Bansal
Hyderabad: India is likely to see more and more start-ups coming under the radar of global majors even as entrepreneurs leave their imprint on the technology landscape.
According to domestic e-commerce retailer Flipkart CEO Sachin Bansal, “There have been instances of Indian start-ups being acquired by global giants ever since India’s start-up boom began. I think more of that will happen now... not only by international technology corporations but also by large Indian corporates,” Mr Bansal told this correspondent.
The recent acquisition of Bengaluru-based Little Eye Labs by social networking giant Facebook has put Indian start-ups back in the limelight after a mammoth deal was struck by Bengaluru-based Red Bus which was acquired by goibibio.
Experts say the Facebook-LEL deal is a huge eye-opener for many entrepreneurs running start-ups in India. According to media reports, the price of the deal was no less than $15 million. “Indian start-ups’ innovation and competitiveness is making them acquisition targets,” Mr Bansal added.
Interestingly, the Facebook acquisition also has Little Eye Labs relocating to Menlo Park, Califo-rnia, headquarters of Facebook.
Few other start-ups that were earlier acquired by tech giants like Google, Microsoft, eBay, GroupOn are Flutter (gesture recognition company Flutter), Baazi and SoSasta.com, respectively.
Given that Flipkart has ventured into fashion, there is speculation that it is eyeing Zovi and YepMe to increase its presence in the online space. Industry sources say that microblogging site Twitter too is on a hunt for a start-up acquisition in India.
( Source : dc )
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