Facebook in talks to set up Irish base
EXPANSION: Facebook founder Mark Zuckerberg
Thursday January 17 2008
The emerging internet giant is considering the Republic as one of two possible locations for its European hub, in a move that could bring a major employment boost.
Executives from the rapidlygrowing site have been meeting business and technology service providers here but the extent of the company’s intentions for its base are not certain. Their interest in setting up here follows Google and Ebay’s recent move to Dublin. Between them, the two firms brought 2,700 jobs to the capital.
COMPETITION
Facebook recently became the number one networking site in the US, but is still third behind competitors MySpace and Bebo in Europe.
The company could decide to locate its technical infrastructure in Ireland or establish a European headquarters, which would bring much more significant employment with it.
Securing the Facebook investment would be a major coup for the IDA, which has been courting the new wave of internet companies to set up base here. This follows a move towards lower-cost locations by electronics manufacturers.
Minister for Enterprise, Trade and Employment Micheal Martin is understood to have met Facebook representatives on an IDA trip to California’s Silicon Valley last October.
Facebook has 61 million users and has been valued at €15bn, following an investment by Microsoft. It was founded by 23-year-old Mark Zuckerberg at Harvard University in February 2004 and has been expanding rapidly ever since. More than half its users are located outside the US and it has 190,000 subscribers in Ireland. A spokeswoman for IDA Ireland would not confirm or deny if it was in negotiations with the company.
Facebook has said the company only has one office outside the US, a sales office in London which opened in October. A spokesman said the company does not have “any other plans to discuss”.
Meanwhile, electronic retailer Amazon established an operation in Cork last year which will eventually employ 450 staff.
Facebook allows members to track their friends activities and keep in touch. It intends launching versions of the site in languages other than English in the next few months.
It has been reported that three German internet entrepreneurs have invested in Facebook and will assist in its European expansion.
