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Facebook’s impact on Indian economy pegged at $4 billion

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Facebook CEO Zuckerberg faces IPO lawsuit over misleading investors
Facebook CEO Zuckerberg faces IPO lawsuit over misleading investors

Facebook enabled $4 billion economic impact on the Indian economy and contributed to 3,35,000 jobs in some or the other way during last year, according to a study.

The study titled Facebook’s Global Economic Impact, by Deloitte, analyses how the social networking site has facilitated growth and jobs around the world.

Commissioned by Facebook, the study estimates that the company, with an approximately $8 billion cost base, enabled global economic impact of $227 billion and 4.5 million jobs around the world in 2014.

Facebook enables global economic activity by helping to unlock new opportunities through connecting people and businesses, lowering barriers to marketing, and stimulating innovation, the study said.

“Across the world there is a greater urgency about creating jobs,” Facebook’s Chief Operating Officer, Sheryl Sandberg said.

“The good news is that the tech industry is powering the economy and creating jobs within and beyond its own campuses. Every day, businesses of all sizes, sectors, and skill sets are using the Facebook platform to grow and expand,” she added.

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