- The app requires just 2MB compared to Instagram’s 30MB. It is compatible with 2G networks, permitting customers in India, Africa, Asia, and Latin America with older internet infrastructure to access the service.
- Instagram Lite retained most critical features of legacy Instagram barring TV and reels for creating and sharing short video clips. Facebook Lite has been available globally for five years.
- Additionally, Facebook in Tel Aviv also developed the Express WiFi service to extend internet access to around 20 countries in Africa, Asia, and South America.
- The Facebook team was also working on a digital wallet for Facebook to tap the 2 billion people with zero or limited access to banks and financial services, with tens of billions of dollars being spent in fees for immigrants remitting money back to their families. Facebook Shops catered to small businesses for online product sales.
- Facebook’s R&D center in Tel Aviv was inaugurated in 2013 after the Israeli mobile app-maker Onavo acquisition for an estimated $150-$200 million.
- Facebook launched a less than 2MB version of the Instagram Lite app barring core Instagram features like Reels and shopping in India last year.
- Price action: FB shares are down 0.75% at $263.92 on the last check Wednesday.
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