MUMBAI: Facebook is buying a stake in Indian e-commerce startup Meesho, the head of the US tech giant's Indian business said on June 13, looking to deepen its reach in one of the world's biggest internet markets. He declined to disclose the value of Facebook's investment in Meesho or the size of the stake it is acquiring. The investment will help Meesho to further its "efforts to enable independent entrepreneurs to build businesses and grow their customer base via social channels", Meesho said on its website. Mohan said Facebook's investment will help Meesho to maximise its impact on a central plank of India's economic growth agenda by supporting job creation through entrepreneurship. India will hold wide consultations with internet companies before finalising rules to regulate content on social media, New Delhi has said previously.

Source: thestar June 13, 2019 13:18 UTC