Social networking major Facebook is now set to enter India. CNBC-TV18 learns that with aninvestment of USD 150 million, Facebook is set to open its first centre in Hyderabad. CNBC-TV18's Kritika Saxena reports on what are Facebook's plans and would this make networkingmore interesting for Indian users.
Sources said Facebook is in talks with Videocon, Reliance for tie-ups. It is likely to invest USD 150 million in the initial phase. The company plans to set up its office in Hyderabad in 2010. According to sources the company has already bought the land and will be setting up a large office in Hyderabad.
Over the next one year, it is learnt that they would be tapping cities like Bangalore and Delhi. Mumbai is not on its radar for the moment.
The investment is largely for advertising, infrastructure, and IT spends. It is likely to hire 60 employees in the initial phase. Sources said about 150-200 employees would be hired by 2012.
Facebook has a subscriber base of 8 million users in India.
When contacted, Facebook confirmed it will be setting up its India operations. "We expect to announce our India plans shortly. However, we cannot comment on our investment details."
This means a larger amount of localised content for Indian users. About 2% of Facebook subcribers are from India.
Source: www.moneycontrol.com