Facebook to establish office on South America Pacific coast next year

Thursday, September 5, 2013

Facebook (Nasdaq: FB) expects to establish a local office presence in one of the three largest countries on South America's Pacific coast - Colombia, Peru and Chile - next year, the company's head of communications for Latin America, Alberto Arebalos, told BNamericas, without saying which country.

Facebook already has offices in Brazil, and small installations in Argentine capital Buenos Aires and Mexico City.

However, the firm is looking to establish a much larger office presence in Buenos Aires by the end of this year, and hopes at some point to do the same in Mexico, Arebalos said.

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The growing office presence is due to the strong growth in these countries, with Facebook's revenues in Brazil, Argentina and Mexico all growing at above 100% annually, the executive added.

The online advertising industry is growing rapidly in Latin America, lead by verticals including consumer products, financial services, retail and tourism, according to Arebalos.

The growth of Facebook in the coming years will be driven largely by Asia and Latin America, and Latin America is one of the most significant regions in terms of potential growth, he added.