Business

Facebook Gets A India Boost Amidst Global Scrutiny

Social Media written with the help of scrabble chips

Facebook has seen a nine percent growth in its daily active user base to 1.62 billion in the September 2019 quarter, driven by markets like India and Indonesia. The US-based social media giant saw its net income growing 19 percent to $6.09 billion in the September 2019 quarter from the year-ago period. Its total revenue also increased by 29 percent to $17.65 billion year-on-year in the said quarter.

“Daily active users reached 1.62 billion, up 9 percent compared to last year, led by growth in India, Indonesia, and the Philippines. This represents approximately 66 percent of the 2.45 billion monthly active users in September,” Facebook Chief Financial Officer David Wehner said during an investor call.

The 1.62 Bn users represent almost 66% of the 2.45 billion monthly active users (MAU) this quarter. Compared to Q2, Facebook has grown by 1.65% with an additional 0.04 Bn MAU. He added.

The company, which is one of the largest ad platforms globally, saw its ad revenue in the September quarter rose 28 percent YoY to $17.38 billion. Facebook also runs the photo-sharing platform Instagram and messaging app WhatsApp.

Wehner said about 2.2 billion people used at least one of its apps on a daily basis in September, and around 2.8 billion were active on a monthly basis.

Talking about payment services on WhatsApp, Facebook CEO Mark Zuckerberg said the company is optimistic that it will soon be able to launch WhatsApp Pay to masses in India.

“We’re, of course, working on payments in WhatsApp. We have our tests going on in India. The test really shows that a lot of people are going to want to use this product. We’re very optimistic that we are going to be able to launch to everyone in India soon,” he said.

WhatsApp’s service, which would compete against the likes of Paytm, PhonePe and Google Pay, has been in testing for months now and is yet to be rolled out nationally in India. WhatsApp has over 1.5 billion users globally, of which India alone accounts for about 400 million.

In a separate statement, Facebook India said it has collaborated with venture capital firm SAIF Partners to enable the growth of small and medium businesses (SMBs) and entrepreneurship in the country.

The 24 brands associated with SAIF Partners have now become a part of Facebook’s VC Brand Incubator Program. These include the likes of Chaayos, Spinny, Airblack, Peebuddy, Skoodoo, and TheMomsCo.

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