In its efforts to maximize online connectivity throughout the world, Facebook Inc (NASDAQ:FB) launched its mobile app that provides free access to particular web services in Columbia. The CEO of Facebook joined the Internet.org project to provide affordable internet access in developing countries.
The mobile app offers free access to some online services including Wikipedia, job listings, health information, weather websites, and Facebook’s social network. All the services available under the application are free but browsing external links would be chargeable as per network charges.
While talking about the initiative, Mark Zuckerberg, CEO of Facebook Inc. (NASDAQ:FB), said, “By giving people these basic tools for free, you’re creating an equal playing field.” He further added that it would give Columbian people a chance to work towards their own prosperity. Internet.org is providing this service in collaboration with Tigo, local mobile service provider.
On business grounds, Facebook Inc (NASDAQ:FB) has established partnerships with over 150 wireless providers for discounted or free Facebook services. However, this is the first time that the social network giant is offering additional services. According to Facebook, the Internet.org project can help as many as 4 billion people, primarily in Africa and India, to receive internet connectivity at affordable prices.
Earlier this week, Facebook Inc announced its participation in finding abducted children by showing AMBER alerts on its social media network. The social network company joined hands with federal authorities to help shorten the period of search and take help from all the Facebook users active in the target area. It is important to consider that Facebook Inc (NASDAQ:FB)’s social media network is used by over 140 million Americans on a daily basis.
The shares of Facebook are trading at $76.28 with current P/E ratio of 72.38 and the company has experienced a downward trend in its share prices in 2015.
This article has been written by Prakash Pandey.