Aims to tap into advertising opportunities in the region.
Come May 30th, Facebook will officially ‘like’ Dubai.
The social networking giant is gearing up to open an office in Dubai to generate advertising revenue from the region. The office will initially start with a staff of three, and be based in Dubai Internet City. Facebook has seen a tremendous increase in users in the Middle East region, with over 45% of the UAE population registered on the website, followed closely by Qatar and Bahrain.
While the site’s shares held a comfortable high of $33.59 per share earlier this week, the stock dropped to $30.50 today amidst investors questioning the company’s public initial valuation of $104 billion. A recent blow came from General Motors, which recently pulled its $10 million advertising campaign from the site.