Twitter, FB look to buy Indian firms
Facebook made news recently for acquiring an Indian company Little Eye Labs, a firm that helps Android app developers to measure, analyze and optimize their apps. Today, Twitter said it is planning to make acquisition in India and is in talks to buy Bangalore-based Frrole, a big data startup that tracks and analyzes half a billion Twitter posts every month to offer insights about users. Analysts believe the Indian IT product space is geared up for the next level of growth.
How Twitter can gain from Frrole?
According to a report, started by Amarpreet Kalkat in 2011, Frrole is a social media platform driven by data intelligence and launched a Twitter-based news discovery site (news.frrole. com) for consumers last year. The gets its feeds from Twitter, sorts through these millions of tweets, filters them out into categories every day.
Analysts believe following its IPO, acquiring a platform like Frrole would be ideal for Twitter as it can provide better insights when it comes the various ways users are engaging with a brand.
One of the startups from the 2013 winter batch at Microsoft Ventures Accelerator in India, Frrole has presence in over 55 cities in India, the US, the UK, Canada, Australia and Singapore. The company’s mobile apps, launched early this year, have already seen more than 5,000 downloads.
Twitter has reportedly been in an acquisition spree. Prior to acquiring Frrole, the social media major bought mobile ad network MoPub for $300 Mn. It also acquired Lucky Sort, a data visualization start-up in May and is looking at companies that make data visualizations interactive on mobile devices.
An eye on the Indian firms
Experts believe a new breed of software start-ups in India is promising to translate huge digital data into practical business insights in real time. Similarly, companies such as Facebook and Twitter are increasingly focusing on Indian product companies to leverage their expertise and bring out newer offerings in the market.
Much of the credit goes to software product think-tank Indian Software Products Industry Roundtable (iSpirt), that was founded in February this year after breaking out of IT industry body Nasscom and has been working towards placing Indian software product firms. iSpirt has facilitated various deals through its M&A Connect program, which helps Indian product companies find global buyers.
Until now there was no ecosystem within the country to showcase software product firms. However, with iSpirt taking to global giants and large scale M&A deals coming up in the Indian software product space, this area is gaining maturity than ever. Some more deals of this stature are likely to come up in the coming months, according to a source.
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