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.