VENTURE CAPITAL POST

Facebook Inc is bullish on Asian market potential. Recently, Facebook's Free Basics service has been banned by Telecom Regulatory Authority of India (Trai). Despite this jolt, Facebook is still optimistic about adding number of users as the region is recording much faster growth rate than other parts of the world.

Facebook has introduced an app naming Free Basics in collaboration with Reliance group. Due to allegations for violating net neutrality, TRAI has instructed Reliance group to restrict access into Free Basics till completion of the investigation over its legal aspects. But industry insiders believe, Facebook may reappear with greater vicinity anytime soon.