Facebook to invest in minor startups |
Social media platform Facebook is looking to back more startups as a minority investor in India, participating with traditional venture capital and private equity investors. The move is a first for the social media major, which typically invests for majority control or acquires 100% stake in other startups in the US and other markets. Facebook India Vice President & Managing Director Ajit Mohan said that “Facebook does not do minority investments anywhere in the world. This is an extremely unique Indian programme, where we are making consistent minority investments. The idea is to accelerate this even more.” With a market capitalisation of 600 billion dollars, facebook will increase its pace of investments in new-age companies in India. India is the largest market in terms of customers for Facebook, which has about 260 million users as of January based data from Statista. Messaging application WhatsApp, which is now owned by Facebook, has 400 million monthly active users. Facebook does not have any constraint on the size of investments. But underlying themes would be startups that are uniquely Indian, focused on inclusion, and delivery of internet`s benefits beyond the large cities.
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