Facebook CEO Mark Zuckerberg expressed his intention to increase the social network giant’s partnership with Google particularly in providing internet access to people around the world during an interview with Bloomberg today.
Following Zuckerberg’s statement, the shares of Facebook traded higher. The social network giant stock price increased 1.27% to $76.56 per share, at the time of this writing, around 1:19 in the afternoon in New York.
Odey Discusses Howard Marks’ Astute Observation On Why Hedge Fund Alpha Is Increasingly Rare [January Letter]
According to a copy of the firm's January investor update which ValueWalk has been able to review, the Odey Asset Management Odey Special Situations Fund returned 7.7% in January, outperforming its benchmark, the MSCI World USD Index, by 8.7%. Q4 2020 hedge fund letters, conferences and more The $60 million fund, which Adrian Courtenay manages, Read More
Zuckerberg’s comment on Google’s approach
When asked about Google’s approach (Project Loon and Google Fiber) to provide internet access, Zuckerberg replied, “Connecting everyone is going to be something that no single company can do by themselves. I’m really glad that they and a lot of other companies are working on this.”
He added that Facebook’s (NASDAQ:FB) internet.org is a partnership between a number of different technology companies, non-profit organizations and governments to resolve the major barriers in providing internet access to people. Internet.org aims to connect the next 5 billion people to the internet.
Facebook loves to work with Google
When asked if Facebook likes to partner with Google, Zuckerberg said yes. In fact, he emphasized that his team are constantly communicating with the search engine giant. According to him, Google Search was included in services offered by internet.org in Zamabia.
“People need to be able to search and find information. I think that is an important thing, and I’d love to work with Google. They are a great search product,” said Zuckerberg.
Last week, Facebook (NASDAQ:FB) in partnership with Reliance Communications launched the internet.org app to provide free mobile internet service in India. The social network giant said the availability of internet.org in the country is a “big step forward” in its initiative to connect everyone to the internet and help people share ideas and creativity to the rest of the world.
Separately, the United States Patent and Trademark Office approved the patent application of Facebook (NASDAQ:FB) for its technology that would identify experts and influencers on a social network. Andrew Bosworth, head of Facebook (NASDAQ:FB) ads submitted a patent application in 2011 and the social network giant received the approval this week.