Indian app developers awarded by Facebook 21 million dollars under FbStart initiative [ Current Affairs ]

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About Facebook: Facebook is an online social networking service used in all over the world. It’s headquarter is in Menlo Park, California. Its website was launched on 4th February, 2004 by Mark Zuckerberg with his Harvard College roommates and other fellow students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes.

  • On July 13, 2015, Facebook became the fastest company in the Standard & Poor’s 500 Index to reach a market cap of $250 billion.
  • Facebook is both a consumer of and contributor to free and open source software.
  • Facebook’s contributions include: Hip Hop for PHP, Fair Scheduler in Apache Hadoop, Apache Hive, Apache Cassandra and the Open Compute Project.

About FbStart:

  • FbStart is a new program from Facebook which is designed to help out early stage mobile startups build and grow their apps.

About award:

  • Facebook awarded 21 million dollars to Indian app developers under its FbStart initiative.
  • It’s aim to give this award to attract next billion Internet users towards social networking, last year Facebook launched FbStart an enterprise to promote and help new mobile app developers around the world.
  • The two Indian applicants Hyderabad - based Samosa and Delhi’s Cardback received the 21 billion US dollars under this enterprise.

About Samosa and CardBack:

  • The Hyderabad - based Samosa had developed an app in which people can share a curated collection of clips from popular movies with their friends.
  • The Delhi - based Cardback developed an app that helps cardholders and wallet users identify the best ways to pay and maximize their rewards and savings for every transaction they make.
  • Facebook provides software of worth 80, 000 dollars and tools of 30, 000 dollars to the app developers.

- Published on: August 14, 2015