Facebook’s shares may be down 28pc since its IPO on 18 May, but the social networking giant is getting on with it and has just opened up a new office in Dubai in an effort to whip up new advertising business. The new sales office will work with brands across the Middle East and North Africa.
Facebook opened its Dubai office yesterday, amid investor concerns about its ailing share price. According to Marketwatch, Facebook’s shares have fallen in six of nine trading sessions since the company went public at US$38 a share on 18 May.
The new office will initially employ three people in Dubai’s Internet City.
Joanna Shields, Facebook’s vice-president and managing director for Europe, Middle East and Africa, spoke at the launch of the Dubai office about how it was a milestone for Facebook and its local partners.
"In an open and connected world, more and more companies are realizing that Facebook is the place where they can build strong connections with their customers. We are here to share our experience and learn from the many talented, creative people in this part of the globe," she said.
Facebook already has 30 global offices.