Facebook keen on tapping Indian SME market
Updated: Jun 09, 2014 01:39:24pm
New Delhi, Jun 9 (KNN) Social networking giant Facebook wants to tap the multi-billion dollar opportunity in the Indian SME market, as the Facebook Chief Operating Officer Sheryl Sandberg is scheduled to make her maiden trip to India, its second-largest market.
Sandberg will be in India in the last week of June, and is scheduled to meet small and medium enterprises (SMEs) in Hyderabad, followed by a media round-table in the national capital next month.
After US, India is the second largest market for Facebook, with over 100 million users.
The company has been aggressively hunting for new avenues to increase advertising revenue and the SME sector in India, which has over 25 million firms, could play a crucial role.
Facebook's revenue for the first quarter of 2014 rose to USD 2.5 billion from USD 1.46 billion a year earlier.
Revenue from advertising was USD 2.27 billion, an 82 per cent increase from the same quarter last year, with mobile ads accounting for about 59 per cent.
Sandberg is also expected to meet developers at the company's headquarters in Hyderabad.
According to media reports, Sandberg may also meet Prime Minister Narendra Modi, who is a social media supporter and utilises Facebook and Twitter extensively in his communications and government officials.
The company is looking at mobile as an important strategy to increase base. Facebook is creating customised apps for the Indian market, notably the 'missed call capability' that was rolled out first in India and then globally.
According to Facebook, 84 million of its 100 million users in India access the social networking site from mobile devices.
The company, headquartered in Menlo Park, California, has already projected that growth will come from mobile as more users in emerging markets, especially India, log on to the site through handheld devices. (KNN/SD)
Sandberg will be in India in the last week of June, and is scheduled to meet small and medium enterprises (SMEs) in Hyderabad, followed by a media round-table in the national capital next month.
After US, India is the second largest market for Facebook, with over 100 million users.
The company has been aggressively hunting for new avenues to increase advertising revenue and the SME sector in India, which has over 25 million firms, could play a crucial role.
Facebook's revenue for the first quarter of 2014 rose to USD 2.5 billion from USD 1.46 billion a year earlier.
Revenue from advertising was USD 2.27 billion, an 82 per cent increase from the same quarter last year, with mobile ads accounting for about 59 per cent.
Sandberg is also expected to meet developers at the company's headquarters in Hyderabad.
According to media reports, Sandberg may also meet Prime Minister Narendra Modi, who is a social media supporter and utilises Facebook and Twitter extensively in his communications and government officials.
The company is looking at mobile as an important strategy to increase base. Facebook is creating customised apps for the Indian market, notably the 'missed call capability' that was rolled out first in India and then globally.
According to Facebook, 84 million of its 100 million users in India access the social networking site from mobile devices.
The company, headquartered in Menlo Park, California, has already projected that growth will come from mobile as more users in emerging markets, especially India, log on to the site through handheld devices. (KNN/SD)
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