Washington: Social networking giant Facebook is reportedly acquiring the team of Indian-origin developers behind customer-loyalty application Tagtile.
“We`re happy to confirm that Tagtile`s founders are joining Facebook, and that Facebook is acquiring substantially all of the company`s assets,” Facebook said in an emailed statement to Bloomberg.
The co-founders of San Francisco-based Tagtile are Abheek Anand and Soham Mazumdar.
According to The Los Angeles Times, Tagtile said on its website that Facebook was `acquiring substantially all of our assets.`
“It``s a huge opportunity for us to take our goal, helping businesses grow, and do it on a much, much bigger scale than we could have on our own,” Tagtile said.
“We``re excited by what lies ahead for us at Facebook,” it added.
Facebook`s announcement came soon after it revealed that it is purchasing popular photo-sharing app Instagram for 1 billion dollars.