Facebook to invest Rs 43,574 crore for 10% in Jio Platforms
NEW DELHI:Reliance Industries Limited, Jio Platforms Limited and Facebook today announced the signing of binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms. This investment by Facebook values Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value ($65.95 billion, assuming a conversion rate of Rs 70 to a US […]
India, Indonesia power Facebook’s daily active user base growth to 2.45 billion
NEW DELHI: Social media giant Facebook has seen a nine per cent growth in its daily active user base to 1.62 billion in the September 2019 quarter, driven by markets like India and Indonesia. The US-based company saw its net income growing 19 per cent to $6.09 billion in the September 2019 quarter from the […]
Facebook plans to double women employees globally in 5 years
NEW DELHI: Facebook aims to double the percentage of women working at the social media giant around the world over the next five years, while simultaneously doubling the number of black and Hispanic employees in the US, setting new diversity goals for the organisation. The world’s largest social-media company also wants half of its US […]
Facebook chooses London as base for WhatsApp payments: Report
LONDON: Facebook will launch WhatsApp Pay from London before it rolls out digital payments in India, said a media report on Wednesday. WhatsApp, which has1.5 billion users globally, will hire nearly 100 people in London to focus on the digital payments service and additional operations staff would be hired in Dublin, the Financial Times reported. […]
Facebook blocks 115 accounts ahead of USA midterm elections
LONDON: Facebook said it blocked 115 accounts for suspected “coordinated inauthentic behaviour” linked to foreign groups attempting to interfere in Tuesday’s United States of America (USA) midterm elections. 2018 elections in the United States are being held on Tuesday, November 6, 2018, except for certain special elections. All these races, whether for a federal, state, […]
Former Deputy PM of UK joins Facebook as head of global affairs
LONDON: Facebook Inc (FB.O) has hired former British Deputy Prime Minister Nick Clegg to lead its global affairs and communications team, as the social network deals with a number of scandals related to privacy, fake news and election meddling. The appointment makes Clegg, former leader of Britain’s Liberal Democrats and deputy to David Cameron in […]
Facebook appoints Hotstar CEO Ajit Mohan as India Chief
MUMBAI: Facebook has poached the head of video streaming service Hotstar to take on the newly-created role of managing director of its Indian operations, as the social media giant faces pressure to tackle fake news and store more data locally. Ajit Mohan will take up the role of managing director and vice-president of Facebook India, […]