Bookpad is the first Indian company to be acquired by Yahoo

Bangalore-based Bookpad has become the first Indian tech startup to be bought by Yahoo, going from creation to acquisition in just one year. The deal comes some eight months after Facebook snapped up Bangalore’s Little Eye Labs. The US internet giant, which is in line to reap about $9.5 billion (Rs 57,000 crore) from Alibaba’s initial public offering, has bought the firm in a deal worth around Rs 50 crore ($8.3 million), according two people with direct knowledge of the development.