Social networking giant Facebook Inc. has quietly introduced a local services site in India that helps customers discover the best-rated service providers around them.
From plumbers to spas, from event planners to pet services, the services are listed at facebook.com/services.
The move marks Facebook’s entry into the already crowded hyperlocal services sector in India and puts tremendous pressure on existing hyperlocal services such as UrbanClap (UrbanClap Technologies Pvt. Ltd), QuikrServices, Housejoy (Sarvaloka Services on Call Pvt. Ltd) and Zimmber (Rejuvenate Solutions Pvt. Ltd).
There are over 530 local services companies and 132 home services companies that have cumulatively raised over $180 million in funding, according to data from start-up tracker Tracxn.
The potential in the largely unorganized sector has attracted blue-chip investors such as Amazon.com Inc., Tiger Global Management Llc., Lightspeed Venture Partners, SAIF Partners, Accel Partners, Bessemer Venture Partners, Omidyar Network and IDG Ventures, among others.
As of October 2015, over two million small businesses in India actively use Facebook pages-a number far higher than smaller platforms have to offer.