NEW DELHI: acebook said on Thursday it has invested in Meesho, a Bengaluru-based startup promoting female entrepreneurship, marking its second investment in India. Ajit Mohan, vice-president and managing director, Facebook India, who made the announcement over a video conference call, did not disclose the amount of the investment but said the tech giant had bought a minority stake. “Facebook is an ally for India’s economic growth and social development. With this investment in Meesho, we want to fuel a business model that can result in rapid job creation and the rise of a female entrepreneurial class in India," Mohan added. Mohan said he believes that SMBs can have a huge impact on the India growth story.

Source: Mint June 13, 2019 12:18 UTC