December 10, 2021 3:15:29 am
Meta Platforms Inc on Wednesday inaugurated its new office in Gurgaon, with the company saying it was the first standalone office in Asia and will house teams of the three apps under the Meta umbrella — Facebook, Instagram and WhatsApp.
Where is the office and what does it contain?
Located in Gurgaon, the office is housed in DLF Atria, over 1,30,000 sq ft. Apart from the CFINE, it will also house the teams for Instagram, Facebook and WhatsApp under the same roof.
Why is opening a new office in India important for Meta?
Facebook, which re-branded as Meta in October, has been looking to hike its presence in India, which has become its largest market by number of users. The company posted a 41 per cent year-on-year rise in gross advertisement revenue at Rs 9,326 crore for FY21, while net revenue grew 22 per cent to Rs 1,481 crore during this period.
Over the last year, however, it has had run-ins with several governments the world over with allegations of the platform not doing enough to curb hate-speech and abusive behaviour.
There were also allegations that despite the need for it, the company invested less in local languages in other countries compared to the investments made for English language users, which are far outnumbered by native language users. Though the company had been planning to shift to a new place owing to its increasing workforce, the shift to a new building, which also houses a Centre for Fuelling India’s New Economy (CFINE) will help it rebuild some of the strained ties.
The CFINE aims to train one crore small businesses and entrepreneurs and 2,50,000 creators in the next three years through a combination of virtual and physical training activities.
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