Major players including Facebook, Intel and others have already ploughed some $15 billion into Jio Platforms this year, as Ambani — India's richest man — seeks to take on US giants Amazon and Walmart in India's growing online retail sector.
Facebook will spend $5.7 billion to take just under 10% of Reliance Industries’ digital unit, seeking to roll out services for India’s grocers and other small businesses by capitalising upon WhatsApp’s extensive reach within the country.
The social media giant said it hopes the machine will help lay the groundwork for its building of the metaverse, a virtual reality construct intended to supplant the internet as we know it today.
Already jittery markets have punished pandemic-era darlings including Netflix for disappointing results, with Meta getting a taste of that after its $10.3 billion quarterly profit and daily user-growth fell short of expectations.
The number of daily active Facebook users fell by 1 million to 1.929 billion, with the company blaming competition from rivals like TikTok and YouTube.
Nowadays, Facebook is used to make important announcements. But what happens when, despite being on Facebook, you haven’t checked your newsfeed in a while?
If Facebook continues to expand at current rates, the number of deceased users could reach as high as 4.9 billion before the end of the century, making it the world's biggest graveyard, predict researchers from the University of Oxford.
Consumers and politicians called the online ad "sickening" and "irresponsible," saying it went directly against public campaigns denouncing domestic violence.
Facebook Chief Operation Officer Shreyl Sandberg on Tuesday announced the social networking giant would hire 1000 more people in London this year, taking to total to more than 4,000.