Foreign IT companies expansion on the Russian market goes on. Facebook is planning to further expand its presence in the Eastern markets as its overall growth begins to falter.
The social networking giant is looking to the countries like Russia, Japan and China, where Facebook doesn’t hold the primary position among social networks, said Mark Zuckerberg, Facebook CEO, in his speech on Cannes festival.
In Russia the company must compete with Vkontakte.ru, which boasts over 75 million customers across the CIS. Facebook currently has just over 500 million users world wide. ‘If we succeed, chances are that we will become a company that would combine 1 billion people,’ added Zuckerberg.
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