Facebook is setting up a new engineering team in Singapore to focus on its lucrative China advertising business, even as chief executive Mark Zuckerberg ramps up criticism of a country that blocks the social network, reported the New York Times.
The team at Facebook’s Asia-Pacific headquarters is tasked with developing better ad-buying tools for Chinese customers who have to work around internet restrictions in China known as the “great firewall,” the sources said.
One of the people described it as Facebook’s first significant attempt at developing regionally localized ads tools outside of its Silicon Valley headquarters, where China-related engineering work previously took place.
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 US$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 US$24.1 billion in advertising sales in 2018.
Full Content: New York Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC and State Attorneys General Sue John Deere Over Repair Restrictions in Antitrust Case
Jan 15, 2025 by
CPI
Enbridge Wins Legal Battle Against Ducere’s Antitrust Allegations
Jan 15, 2025 by
CPI
GOP Pushes for Antitrust Authority Consolidation Under DOJ in New Legislation
Jan 15, 2025 by
CPI
Canadian Government Approves Bunge-Viterra Merger with Conditions
Jan 15, 2025 by
CPI
SEC Sues Elon Musk Over Delayed Disclosure of Twitter Stock Ownership
Jan 15, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – CRESSE Insights
Dec 19, 2024 by
CPI
Effective Interoperability in Mobile Ecosystems: EU Competition Law Versus Regulation
Dec 19, 2024 by
Giuseppe Colangelo
The Use of Empirical Evidence in Antitrust: Trends, Challenges, and a Path Forward
Dec 19, 2024 by
Eliana Garces
Some Empirical Evidence on the Role of Presumptions and Evidentiary Standards on Antitrust (Under)Enforcement: Is the EC’s New Communication on Art.102 in the Right Direction?
Dec 19, 2024 by
Yannis Katsoulacos
The EC’s Draft Guidelines on the Application of Article 102 TFEU: An Economic Perspective
Dec 19, 2024 by
Benoit Durand