Facebook Inc (FB) CEO Zuckerberg Plans For Internet.org


Facebook Inc (NASDAQ:FB) Chief Executive Officer Mark Zuckerberg is trying to get the entire world on the Internet. He announced a new initiative called Internet.org, which unites Facebook with major tech companies like Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930), QUALCOMM, Inc. (NASDAQ:QCOM), Ericsson (NASDAQ:ERIC) and Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V).

Play Quizzes 4

The end goal of the initiative is to make it possible for the entire world to be able to access the Internet. Currently about four million people around the globe do not have access to the World Wide Web.

Slashing the costs of providing Internet

The Facebook Inc (NASDAQ:FB) executive said right now the main focus of Internet.org involves reducing the costs and needs associated with providing Internet service. Vindu Goel of The New York Times reports that Facebook itself is planning to work on cutting how much data its app needs every day from 12 mb to 1 mb. QUALCOMM, Inc. (NASDAQ:QCOM) is apparently working on ways to extend battery life and create better Wi-Fi networks.

Voss Value Sees Plenty Of Opportunities In Cheap Small Caps [Exclusive]

investFor the first quarter of 2022, the Voss Value Fund returned -5.5% net of fees and expenses compared to a -7.5% total return for the Russell 2000 and a -4.6% total return for the S&P 500. According to a copy of the firm’s first-quarter letter to investors, a copy of which ValueWalk has been able Read More

Of course while this initiative may seem like a major humanitarian effort, we can’t overlook the business implications it has. After all, if only one out of seven people are using Facebook now, think about how many more the social network could add if the four billion people who don’t have Internet access are suddenly able to get online.

Expanding into emerging markets makes sense

The same is true for other tech companies taking part in Internet.org. The more people who have access to technology infrastructure, the more customers these tech companies are likely to have. Therefore, it’s in their best interests to take on some of the costs associated with building the infrastructure. They may have to pay for it all up front, but the goal is to build out possibilities for expansion within their own businesses.

We’re seeing more and more how emerging markets are playing an important role in the expansion of tech companies. For example, Google Inc (NASDAQ:GOOG) has been partnering with some phone carriers in developing countries so that they can offer free Gmail access to users. The search giant’s Project Loon is also aimed at bringing Internet access into developing and emerging markets, although it involves beaming service down through plastic balloons in the atmosphere.

Updated on

Michelle Jones is editor-in-chief for ValueWalk.com and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at Mjones@valuewalk.com.
Previous article BlackBerry Ltd (BBRY) Price Target Slashed By Jefferies
Next article Hedge Funds Net Short In Emerging Markets And Gold In Q2

No posts to display