Bangalore-based document viewing solution provider Bookpad has been acquired by Yahoo in a deal worth Rs 50 crores, reports the Economic Times. Note that neither Yahoo nor the founders of Bookpad have confirmed the acquisition.
Bookpad currently competes in the document viewing space with its flagship product Docspad, which allows clients to create and format text documents online and collaborate in real-time. The differentiation between Docspad and competitors like Google Docs and Crocodoc is that it focuses on enterprise clients exclusively and allows them to modify the product based on their own requirements.
The product provides a set of APIs to app developers which can be used to provide document handling tools within their respective applications. Developers can embed various document formats (docx, pdf, ppt, xls etc.) in their app which can then be edited, previewed, managed etc. from the app interface itself. The API functions by converting the documents to html5 through its servers, letting users edit documents in real-time.
Docspad offers three deployment options, it can be deployed over its own cloud servers which claim to be infinitely scalable and offer optional amazon S3 tier storage integration, as an on-premise solution which runs on client managed servers and as a private cloud installation, which lets clients deploy the service over 3rd party cloud servers. The startup currently offers a free 15-day trial and has four tiered pricing plans for each deployment method, ranging from 0-1000 documents to more than 100,000 documents per month. It’s not clear whether Yahoo will merge the company to offer a consumer oriented e-mail and document manager like Google Docs, or keep its operation separate while retaining its enterprise focused business model.
Founded by Niketh Sabbineni, Aditya Bandi and Ashwik Reddy, Bookpad focuses on enterprise clients in the US market and currently claims to have revenues of around Rs 1 crore per year.
Prior to this, Bookpad was selected for the Startup Warehouse programme, a Karnataka government and Nasscom initiative as a part of Nasscom’s 10,000 startups program. It was then inducted by Microsoft Ventures Accelerator for its 2014 summer batch, which started on the 22nd of January and ended with the demo day on the 23rd of May.