Social networking is expanding globally; Facebook is looking at extending into the Chinese market by trying to acquire Zhanzuo.com, the largest social network in China.
"Facebook already boasts more than 100,000 users of its English-language network in China and rumours of its local-language entry were fuelled with the company's recent registration in China of the domain facebook.cn," the Times reported.
Mark Zuckerberg founded Facebook while a student at Harvard, and has been looking for a way to tap into the seven million active users in China. He offered $85 million for Zhangzuo which has about seven million active users.
UPDATE: Facebook denies any deal.
Facebook China
Zuckerberg Offers $85 Million For Zhangzuo (UPDATED)
Trend Themes
1. Global Expansion of Social Networking - Opportunity for social networking sites to expand globally, possibly through acquisition of local-language social networks such as Zhangzuo in China.
2. Localization of Social Networking - Localization of social networking platforms in different regions presents growth opportunities, such as Facebook's registration of the domain facebook.cn.
3. Competition Among Social Networks - Competition among social networks, especially in emerging markets, provides opportunity for innovation and growth through mergers, acquisitions, and other partnerships.
Industry Implications
1. Social Networking - Social networking platforms have the potential to expand globally and innovate through partnerships, mergers, and acquisitions.
2. Technology - Advancements in technology facilitate the global expansion and localization of social networking platforms, presenting growth opportunities for the industry.
3. Digital Marketing - As social networking expands globally, digital marketing opportunities emerge for companies looking to target specific regions and demographics.