Facebook Inc. (NASDAQ:FB) reportedly has plans of opening an office in Beijing as well for which it is working quite fast and has acquired a premium office space on rent as reported on Monday by Beijing Youth Daily. The office space is rented for three-years and is located in a prime location at Beijing central business district. The newspaper, citing a source from the property developer, claims that the rented space is located in Fortune Financial Center.
Facebook already present in China
As per the reports, it is not possible to make out if Facebook Inc. (NASDAQ:FB) has an office there or not as no visible signs of its presence are there. The Chinese market has been at the company’s target from quite some time and it has been acquiring trademarks since 2007 and the count has now reached beyond 60, as per the information from the Trademark Office of the State Administration for Industry and Commerce.
The social media giant has been making some rigorous efforts for marking its presence in China. Facebook Inc. (NASDAQ:FB) is banned in China since 2009 owing to certain internet censors, but the company has one office of its in Hong Kong, which was established in 2011 for the purpose of carrying out advertising operations for the local clients, who wish to reach out the international customers. Facebook already has employed a number of app developers from China, as informed by the company’s Vice President Vaughan Smith at the Mobile Internet Conference held in Beijing, in the month of May.
Growing revenue from Asian markets
The U.S. Company has made considerable growth in terms of performance in the Asian market, and thus the region is a promising area of growth of business. According to a report released on Friday by Bloomberg, 14% of its first quarter revenue was generated from operations in the Asian markets that contributed $354 million worth of revenue.
While the company’s revenue has grown on an overall basis since its IPO in May 2012, the revenue from Asia has grown by more than 100% in the time span of two years with the company reporting first quarter revenue of $118 million, accounting for 11% of the total.