Facebook Inc is setting up a new engineering team in Singapore to focus on its l...
) is setting up a new engineering team in Singapore to focus on its lucrative China advertising business, according to three people familiar with the effort, even as chief executive Mark Zuckerberg ramps up criticism of a country that blocks the social network.
Facebook confirmed the creation of the new team, describing it as having an “Asia-first” mission and consisting of both product and “business integrity” sub-teams. Its existence has not previously been reported.Facebook sells more than $5 billion a year worth of ad space to Chinese businesses and government agencies looking to promote their messages abroad, analysts estimate. That makes China Facebook’s biggest country for revenue after the United States, which delivered $24.
“Facebook is committed to becoming the best marketing platform for Chinese companies going abroad,” Facebook wrote in Chinese on local social network WeChat in November.Bytedance, the parent company of social media sensation TikTok, used Facebook’s advertising tools to do exactly that. “Small advertisers are wary of advertising with Facebook because Facebook is banned in China,” one of the people said, adding that second- and third-tier cities with smaller businesses are key targets for the next phase of growth.
The company also wants its engineering outpost to spot emerging trends, having determined the world’s most interesting consumer technologies are being built in Asia, largely in China, one of the people said.Even while courting Chinese advertisers, Zuckerberg took an increasingly confrontational approach with Beijing in 2019, coinciding with scrutiny of Chinese apps in Washington and new pressures over U.S. antitrust investigations into Facebook.
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