Facebook founder and CEO Mark Zuckerberg has sent a thank-you letter to Mukesh Ambani, for enormously profitable fourth quarter. One billionaire writing to another.Mukesh Ambani’s big bet on data, Reliance Jio has proven to be an instant success, along with India’s big digital boom such as – Digital India and Make in India. US-based social network crown holding giant Facebook report a 128 per cent rise in net profit. To be exact, $3.54 billion for the quarter ended December 31, 2016. While, $1.56 billion reported for the corresponding quarter last year.
According to the media reports, free data offered by Mukesh Ambani’s Reliance Jio Infocomm across India has contributed extensively to Facebook’s enormously profitable fourth quarter. Making India the ‘strongest’ component in social media giant’s growth market by user base.
Facebook CFO David Wehner, said while addressing the media at its earnings call, the company’s drastic growth in Asia was significantly boosted by the free data offering in India, thanks to Jio Infocomm.“In the fourth quarter, wanted to call out that we have seen an increase in third-party promotional free data plans in places like India,” Wehner said.
India accounts for over 160 million users, being second highest globally behind United States. Mobile advertising revenue for Facebook grew 53 per cent in the corresponding quarter last year.
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