Facebook enters the videoconferencing fray with Messenger Rooms

SAN FRANCISCO (Reuters) – Facebook Inc (FB.O) introduced a videoconferencing tool and expanded livestreaming features on Friday, capitalizing on a surge in demand for video chats during the coronavirus pandemic while taking its first steps toward a planned integration of messaging products across its apps. The videoconferencing tool, Messenger Rooms, will enable as many as 50 people to participate in […]

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Facebook invests $5.7 billion in Reliance unit, plans digital services for Indian grocers

BENGALURU (Reuters) – Facebook (FB.O) will spend $5.7 billion to take just under 10% of Reliance Industries’ (RELI.NS) digital unit, seeking to roll out services for India’s grocers and other small businesses by capitalising upon WhatsApp’s already extensive reach within the country. The stake in Jio Platforms, Facebook’s biggest acquisition since it bought WhatsApp for $22 billion in 2014, will […]

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Facebook, three Indonesian firms in early talks for mobile payment approval: sources

JAKARTA (Reuters) – Facebook Inc is preparing to apply for regulatory approval in Indonesia to launch mobile payments in partnership with three local digital fintech firms, people familiar with the matter told Reuters. The plan, if approved, could be among the first such services under the unified payment service Facebook Pay it, which the social media platform unveiled in November. […]

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Facebook pledges $100M to help journalists cover coronavirus pandemic

Facebook CEO Mark Zuckerberg announced on Monday a $100 million commitment to support local news outlets, committing $25 million for emergency grant funding through the Facebook Journalism Project and $75 million in marketing to support journalists amid the coronavirus pandemic. “As part of our efforts to support the news ecosystem and make sure everyone has access to accurate and timely […]

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Facebook Commits $100 Million to Help News Outlets

“Right now journalists are working under very difficult conditions to keep their communities informed, and many news organizations are struggling due to the economic impact of the outbreak,” CEO Mark Zuckerberg says The world continues to be upended by the coronavirus pandemic, with more people contracting COVID-19 as the days pass. While many have recovered, some have died from complications […]

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Facebook appoints Robert Kimmitt as lead independent director

(Reuters) – Facebook Inc on Thursday named the U.S. Treasury’s former deputy secretary, Robert Kimmitt, to its board as lead independent director, effective immediately. “The lead independent director is an important role for us and we’ve been looking for a leader who can bring significant oversight and governance experience,” Facebook Chief Executive Officer Mark Zuckerberg said in a statement. The […]

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Facebook eyes multi billion dollar stake in Reliance Jio: FT

(Reuters) – Facebook Inc (FB.O) is in talks to buy a multi billion dollar stake in Reliance Industries Ltd’s (RELI.NS) telecom unit, the Financial Times reported on Tuesday, citing two people with knowledge of the matter. The report on.ft.com/2wyFwc1 said the social media giant was in talks for a 10% stake in Jio, controlled by India’s wealthiest man Mukesh Ambani, […]

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