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Construction : Deals | September 2014 | Source : Construction Update

Yahoo acquires Bangalore based tech startup Bookpad

Making its first buy in the Indian startup market, Yahoo has bought Bangalore based tech startup, Bookpad for a consideration of Rs 500 million. The barely year old startup founded by IIT-Guwahati alumni, Niketh Sabbineni, Aditya Bandi and Ashwik Reddy, offers users to view, edit and annotate documents including PDF, Word, Powerpoint through its product DocsPad within a website or app. Over a period of time, Bookpad pivoted to B2B from B2C and added many a names to its clientele list which included e-learning and cloud storage startups. For Yahoo, a content provider, the technology can potentially be embedded in many of its services. IT industry body Nasscom's 10,000 Startups programme had identified Bookpad as a promising idea and the venture was incubated at the Startup Warehouse established by Nasscom and the Karnataka government in Bangalore.
 
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