Facebook has started a subsidiary in mainland China. This is a long-awaited move for the social networking behemoth and Mark Zuckerberg, its Mandarin-speaking founder. The firm, dubbed as Lianshu Science & Technology, was founded on July 18, 2018, with $30 Million of reported capital, as per corporate record database of China.
Lianshu factually translates to “face” and “book.” The Hong Kong branch of Facebook holds its entire stakes. Zhang Jinghai is dubbed as the legal representative of new company, while Susan Taylor and David Kling are reported as directors. Kling is the vice president at Facebook, while Taylor is the chief accountant of the internet giant, as per their profiles on LinkedIn.
Zhang holds the same position at the firm behind sneaky launch by Facebook in 2017 of Colourful Balloons (a photo-sharing app for China), which recreated Moments app by Facebook. The app never became successful, marking one more setback for Facebook in China. It has strived to break the “Great Firewall,” which tightly regulates internet content of China, ever since it’s the social media behemoth was barred in 2009 by Beijing.
Co-founder and chief executive at Facebook, Mark Zuckerberg, has conducted various high-profile meetings in China. He has tried to get close to politicians of Beijing too, allegedly asking Xi Jinping (Chinese President) to offer a Chinese name for his daughter. Xi refused.
In spite of the efforts, Zuckerberg has not been able to get Facebook unbanned in China. It stayed inaccessible in Beijing till this date. The new subsidiary of Facebook will engage in the growth of technology services, network IT, and consulting amongst other offerings.
On a related note, as fraction of its goal to link billions of individuals who are still offline, Facebook is operating on rolling out Athena, its personal Internet satellite, early next year, the media reported last week.