Facebook (FB) Droppin Dollars in Asia, Splurges on Internet Cable
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Facebook (Nasdaq: FB), fresh off its IPO and flush with cash, is making it rain today in Asia. The company is investing an unknown sum of money in a $450 million underwater internet cable project that is meant to help link Malaysia to South Korea and Japan.
Facebook said the move would support efforts to boost membership in what was already one of its fastest growing markets.
"Our investment in this cable will help support our growth in South Asia, making it possible for us to provide a better user experience for a greater number of Facebook users in countries like India, Indonesia, Malaysia, the Philippines, Hong Kong, and Singapore," a spokesman said.
Facebook said the move would support efforts to boost membership in what was already one of its fastest growing markets.
"Our investment in this cable will help support our growth in South Asia, making it possible for us to provide a better user experience for a greater number of Facebook users in countries like India, Indonesia, Malaysia, the Philippines, Hong Kong, and Singapore," a spokesman said.
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