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Facebook India’s Net Profit Surges 40% in FY 2017-18

25Dec By Gauri SinghNo Comments

BUSINESS

Facebook India’s Net Profit Surges 40% in FY 2017-18

Facebook India’s profit jumped about 40% to Rs 57 crore in the year ended March 2018, reflecting the increasing adoption of social media in a country where data costs have reduced drastically. The company’s total revenue in India surged 53%. The social media major in a financial statement said that the services it provided to the US parent company helped drive growth. Revenues also represent the money Facebook earned from WhatsApp, the messaging application. The company’s total revenues stood at Rs 521 crore for FY18, compared with Rs 407 crore in the corresponding period a year before. The financial statement said the company faces several tax issues in India. The company has pending disputes related to income tax, VAT, sales tax, customs and excise and s...

Facebook Rolls Out Digital Literacy Library for the Young India

30Oct By Gauri SinghNo Comments

Tech

Facebook Rolls Out Digital Literacy Library for the Young India

For a long time now, Facebook has been making efforts to cope up for the mistakes that the company made in the recent past and as part of its efforts to train 3,00,000 people in India on digital literacy, it has launched Digital Literacy Library. This is a collection of lessons in six local languages - Hindi, Bengali, Tamil, Telugu, Kannada and Malayalam. This announcement was made at Facebook's South Asia Safety Summit. The Ministry of Women and Child Development together with Facebook summoned a group of leaders in safety and technology and was joined by around 70 organizations from over five countries that include India, Sri Lanka, Nepal, Bangladesh, and Afghanistan. “The launch of the Digital Literacy Library, the child safety hackathon and several offlin...

Facebook to combine AR, VR and News Feed with 3D Posts

22Feb By Sabhyata AgarwalNo Comments

Tech

Facebook to combine AR, VR and News Feed with 3D Posts

Facebook users should gear up for some stimulating news. The Facebook Inc.’s Andrew Bosworth, head of virtual and augmented reality products and hardware, announced that the social media company will make its "biggest AR/VR news" to date at the upcoming Facebook Developer (F8) Conference in May. Under 70 days to go until our biggest F8 to date -- where we'll share the biggest AR/VR news from Facebook to date. https://t.co/hHXeEIdJaW — Emotional Support Boz (@boztank) February 21, 2018 Facebook has been consistent in coming up with new features such as 360 photos, Live videos and GIFs which have helped them in keeping the users mainly the youth interested, and now it is polishing its standard to a new level. Last year, in October Facebook debuted with posts of 3D M...

India Becomes The Largest Audience Country For Facebook: Report

14Jul By AnkitaNo Comments

ANALYSIS

India Becomes The Largest Audience Country For Facebook: Report

Facebook users in India have crossed 240 million mark, becoming the largest audience country for the social media giant, according to a media report. As of July 13, Facebook is reporting a total "potential audience" of 241 million active users in India, compared to 240 million in the US. The change at the top of the platforms country rankings comes just a few days after Facebook announced it has more than two billion monthly users around the world. Facebook has achieved impressive growth in both the countries since the start of 2017, but these new figures suggest that active users in India are growing more than twice as fast as they are in the US, The Next Web reported. Active users in India are up 27 per cent in the past six months alone (+50 million), compared to growth of 12...