The company is also seeing a notable increase businesses led by women on its platforms after the Covid-19 pandemic, he said. “Meta has almost become the default home for customers and businesses, but especially for businesses that hail from small towns. The pandemic has also brought many young female entrepreneurs online. We see this as a significant trend. 60% of Instagram and 50% of businesses. Facebook self-labeling companies led by women came after the pandemic, ”Vohra said.
“In India, we now have over 20 million small businesses in multiple languages,” he added.
Vohra said the company has partnered with nearly 15 venture capital funds in the country to lead and empower small and medium-sized businesses in India, and the company will look into several such associations throughout the year. “We will go deeper with more and more VCs in 2022. What helps us do is that nearly 450 young funded companies today are on their end-to-end journey on Meta as a platform. That story is becoming more and more important to the world. , for India and for us and we are very aware of that, ”he added.
He said many of the unicorns being talked about today were at one point part of the company’s VC Brand Incubator program. Companies like Mama Earth and Chaayos have already been part of the programs before. “Many of these companies are the ones that are starting their journeys and many of them may even be the ones that have had physical stores but haven’t leveraged digitally enough to grow their business,” she said.
Meta launched the WhatsApp Business Coach chatbot a few months ago to help small and medium-sized businesses grow their online business via WhatsApp, Instagram and Facebook. “This becomes a default way to empower young entrepreneurs. We have also started the loan program for a couple of months. Loans are available in over 340 cities in India. We will continue to double in all of these areas,” she added.
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Vohra said the company currently serves nearly 200 million small and medium-sized businesses globally and this is significant. “The world is growing and so are we in making that world possible. I don’t think these are sporadic trends. If three years is any indication, that’s as long as a company’s GNP. Typically, let’s say it takes three years to become profitable. But that’s a trend that’s here to stay, “he added.