New India head to report to US office
Facebook (FB) is in the process of rebuilding its executive team in India, according to India’s Economic Times newspaper, which cites Facebook’s internal communications. Facebook’s operations in India have been led by a top executive bearing the title of managing director.
The new organizational structure being worked out will see Facebook’s India head given more power, and the top executive will wear the title of managing director and vice president, the report said. In addition, the new India head will report to Facebook’s headquarters in the United States instead of its Asia-Pacific office, according to the report.
The battle for India’s digital market
Facebook is remaking its India team at a time when its rival Snap (SNAP) has moved to start courting advertisers in India. Facebook is also restructuring its India team at a time when online advertising rival and digital music service Spotify (SPOT) is expected to launch in India at any time. Earlier this month, Spotify struck a deal making it the go-to music service on Samsung (SSNLF) devices. Samsung is the top smartphone company in India in terms of unit shipments.
Alphabet’s (GOOGL) Google is also making an aggressive push in India. Last year, it launched an India-specific mobile payment app, and it’s recently been linked to retail investment in India.
Asia-Pacific revenue rose
India contributes to Facebook’s Asia-Pacific region, where revenue jumped 43.8% YoY to $2.3 billion in the second quarter. Facebook exited the quarter with 894 million monthly users in the Asia-Pacific region. The company has ~270 million users in India.