Chairman of Mahindra Group Anand Mahindra has asked Indian startups to work on a social networking company based out in the country.
The noted industrialist also promised seed capital to any startup who comes forward and work on the local version of Facebook.
His comments have come at a time when Cambridge Analytica data breach scandal created waves against social media platform Facebook. Raising the concern Mahindra expressed on Twitter that this is the right time to build desi social networking platform.
“Beginning to wonder if it’s time to consider having our own social networking company that is very widely owned & professionally managed & willingly regulated. Any relevant Indian start-ups out there? If any young teams have such plans I’d like to see if I can assist with seed capital,” he said on Twitter.
Beginning to wonder if it’s time to consider having our own social networking company that is very widely owned&professionally managed&willingly regulated.Any relevant Indian start-ups out there?If any young teams have such plans I’d like to see if I can assist with seed capital pic.twitter.com/nBSkQk0hCp
— anand mahindra (@anandmahindra) March 26, 2018
After receiving overwhelming reply on the social network, Anand Mahindra later tweeted, “Thank you all for the flood of responses, suggestions & proposals. Please copy your tweets to my colleague @jbindra who will work with me on this exploration. If nothing else, it should be fun,”.
Thank you all for the flood of responses, suggestions & proposals. Please copy your tweets to my colleague @j_bindra who will work with me on this exploration. If nothing else, it should be fun… https://t.co/U0DfzPlLEH
— anand mahindra (@anandmahindra) March 27, 2018
Of late, Facebook is being accused of compromising the data of 50 million users by sharing their details with Cambridge Analytica, a British data analytics firm, which allegedly used data to manipulate the US electoral process.
Also Read: IT minister warns Facebook for manipulating upcoming elections [Is it hogwash?]
Last week, Minister for information technology Ravi Shankar Prasad threatened to take a strong stand against Facebook if it tries to manipulate an upcoming election that will decide new central government in the country.
He had said that the misuse of social media cannot be tolerated when it comes to maintaining the sanctity, transparency, and fairness of elections.
The scandal even triggered a firestorm in India, with both BJP and the Congress are accusing each other of links with the British analytics firm.
Meanwhile, Facebook has already issued an apology and has assured of taking stringent steps to secure user data.
The development was first reported by The Hindu.
