Facebook plans to invest in tech startups of India

MUMBAI: Social media giant Facebook is planning to invest in technology startups of India. Few months back, the first minority investment that Facebook made was in Meesho. Speaking at the opening session of the second edition of ‘Huddle Kerala 2019,’ Facebook India vice president and managing director revealed the plan.

“We now have shown willingness to make direct investments in technology startups in India. We are willing to spend our time, and energy to tap the massive depth of engineering talent in the country,” Mohan said.

The first investment Meesho could bring 2,00,000 first-time female entrepreneurs online which relies on the existing behaviour of communities in India and leverages on women entrepreneurs essentially pitching products to their friends and families.

“It is an innovation that was coming out of India which can be exported to rest of the world, and that model has scaled a dramatic impact in job creation. Any analysis of economy, most of the job creation happens from small business,” Mohan added.