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Share Name | Share Symbol | Market | Type |
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Meta Platforms Inc | NASDAQ:META | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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-6.44 | -1.34% | 475.10 | 475.05 | 475.14 | 477.69 | 472.75 | 475.00 | 10,030,014 | 18:20:31 |
By Newley Purnell
NEW DELHI -- Facebook Inc. is hiring a high-profile technology executive with expertise in Silicon Valley and India to help develop strategies for its Messenger app, an increasingly important platform for the social-media company.
Anand Chandrasekaran, a former senior executive at Yahoo Inc., will assume a global leadership role working on strategies and partnerships for Facebook's billion-user-strong texting service, said people familiar with the situation.
It wasn't immediately clear whether Mr. Chandrasekaran would be based in the U.S. or India.
An announcement could be made as soon as Tuesday, one of the people said.
A Facebook spokeswoman confirmed the hire, but didn't add anything further.
After working at Yahoo, Mr. Chandrasekaran served as chief product officer at Bharti Airtel Ltd., India's largest cellular company, where he launched Airtel's mobile application and a popular music-streaming app.
Last year, he joined New Delhi-based Snapdeal, one of India's major e-commerce startups, as chief product officer. He departed the company in recent months.
With global users increasingly flocking to messaging platforms such as Facebook's own WhatsApp and Chinese internet company Tencent Holdings Ltd.'s WeChat, the Menlo Park, Calif., company is eager to transform Messenger into a hub for activities such as e-commerce.
In April, Facebook emphasized its focus on the app at its annual F8 conference in San Francisco, showing developers how to create so-called chatbots for the service. These automated services can interact with consumers in real time to answer questions about the prices of goods, for example.
"Messenger is going to be the next big platform for sharing privately," Facebook Chief Executive Mark Zuckerberg said during his keynote remarks at the event. Facebook said in July that more than one billion people use Messenger every month. WhatsApp said in February that it had passed that milestone.
With Facebook locked out of China because the government doesn't allow its citizens to use the service, India is a crucial market for the U.S. company's growth, with hundreds of millions of people yet to come online. It is already the company's second-biggest market, after the U.S., in terms of Facebook users.
But India is also a sensitive market for Facebook. In February, India's telecommunications regulator effectively banned the company's controversial Free Basics service, which Facebook said was designed to get unconnected users online via sites and apps without paying for mobile data.
Critics argued that Free Basics, formerly called Internet.org, violated the principles of net neutrality, which call for equal treatment of all traffic on the internet, and amounted to a cynical ploy to gain new users for Facebook's platform.
Facebook countered that while it was disappointed with the regulator's decision, it was committed to helping connect the unconnected, and that doing so promotes economic development. The Free Basics service operates in dozens of countries globally.
--Deepa Seetharaman in San Francisco contributed to this article
Write to Newley Purnell at newley.purnell @wsj.com
(END) Dow Jones Newswires
September 20, 2016 02:48 ET (06:48 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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