The world’ s giant of Social Networking, the facebook is teaming up with VC funds to augment growth in firms they have invested in via a series of programs. And before a few weeks, Facebook invested in local commerce platform named Meesho.
Facebook said it will work with venture capital stocks by sharing vertical-specific insights to leverage its group of apps for brand-building and advertising actions.
VC Brand Incubator Programme is the first such drive-by Facebook, where it will present a series of skilling and mentoring sessions across Mumbai, Bengaluru and other key cities to support small and medium-sized businesses (SMBs) create a digital presence.
Facebook said it carried the first event last month in collaboration with Mumbai-based early-stage consumer investment capital fund Sauce.vc, which backs startups in the food and beverages, personal care, apparel, and the lifestyle portions.
“Running with VC funds is important as it permits us to balance and support SMBs at an early-stage itself, fast-tracking their development,” said Archana Vohra, Director, Small and Medium Businesses at Facebook India.
Facebook’s equity investment in Meesho last month was intended at promoting entrepreneurship amongst women, and in poorer cities. Facebook India MD Ajit Mohan said at the time that the US-based company would withdraw more local startups to approach audiences behind the big cities and stoke the India internet legend.
The technology firm, which insists it has 90 million small businesses on its platform, also prepares to drive a series of programs in the up-and-coming weeks to support businesses who are at distinctive platforms of their lifecycle, it said in an announcement.