Social media major Facebook is gearing up to make substantial investments in technology start-ups in India, a top official from the company said on Friday. Ajit Mohan, the company’s India vice-president and managing director, said they are willing to make direct investments in technology start-ups in India.
“We are willing to spend our time and energy to tap the massive depth of engineering talent in the country,” said Mohan while addressing the opening session of the second edition of ‘Huddle Kerala 2019,’ a start-up meet here.
“A couple of months ago, we announced the first minority investment that Facebook has done anywhere in the world in a company called Meesho. What Meesho does is it relies on the existing behaviour of communities in India and leverages on women entrepreneurs essentially pitching products to their friends and families,” added Mohan.
He went on to add that the best thing about their model was it could bring 2,00,000 first-time female entrepreneurs online.
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