Facebook has partnered with TLabs, the Times Internet startup accelerator. As part of the programme Facebook will provide FbStart referral codes to TLabs for use by TLabs’s mobile portfolio companies.
What is FbStart
FbStart is part of Facebook’s business strategy to get startups to use its network and tools. Startups are extended credits and free services for a limited time by Facebook and 30 other partnering firms including Amazon Web Services, MailChimp, Adobe, Dropbox, etc. Over a period of time, startups develop dependencies on these services and turn into customers. Microsoft and Google run similar programmes for startups called BizSpark and Google Developers Launchpad Acclerator, respectively.
“As part of the program, startups will receive $2,500 worth of ad credits on Facebook for six months, hosting facilities on Amazon Web Services for a year, among other partner credits,” Abhishek Gupta, COO of TLabs told MediaNama. As part of the program TLabs and Facebook will also hold multiple events around issues around user experience, analytics, app installs and monetization.
What is TLabs
Noida-based TLabs–an early stage seed funder and startup accelerator run by Times Internet–invests Rs 30 lakh ($46k) for 8% equity in early startups and runs four month training for startup founders. In the past five years, TLabs has invested in 53 startups.
Times Internet, one of the biggest Internet realty owners in India, is a subsidary of the Bennett Coleman & Co. Ltd, which publishes the Times of India, the Economic Times, etc. It has investments in Uber. Coursera, Delhivery. Haptik, etc. Last month, Times Internet invested Rs 30 crore in property listing website Magicbricks.
Editor’s note: This post has been rewritten for sharpness and removal of PR-speak.