Facebook fishing for Dubai’s money?
Rumors claim the popular social networking site is in town, the latest in line to try and woo funds in the emirate for cash.
November 4, 2008 12:45 by kippreport
DIC has already made several international investments, including a $1.2bn injection into the Tussauds group, and another in the Merlin Entertainment group. Interestingly, most of DIC’s investments abroad have been in the UK, although there are a few in Germany and two in India.
Facebook, however, is a strong brand. It is expected to make generate more than $350m this year alone. It even has a place on Google’s top ten searches in the UAE, a spot which it has been occupying for some time.
But what is ironic about the rumor is that in the beginning of 2008, the UAE banned Facebook for going against the ‘moral ethics’ of the country. But the ban resulted in a major public outcry, and Facebook was eventually unblocked.
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