Home / Street Sector / Facebook, Inc. (NASDAQ:FB) Sings an MoU to Build A Product Design Initiative With Nasscom- TripAdvisor Inc. (NASDAQ:TRIP)

Facebook, Inc. (NASDAQ:FB) Sings an MoU to Build A Product Design Initiative With Nasscom- TripAdvisor Inc. (NASDAQ:TRIP)

Facebook, Inc. (NASDAQ:FB) [Detail Analytic Report] and Nasscom, the trade body of Indian IT firms has inked an MoU to build a product design initiative to engage the nation’s young entrepreneurs into becoming problem solvers and solution builders, NDTV reported.  R Chandrashekhar, President of Nasscom stated that the initiative is likely to propel innovative thinking and approaches to build solutions in major sectors where technology can play a transformational role. This is a joint initiative to catalyze the innovation ecosystem and to help design thinking.

Chandrashekhar added Tte MoU is intended to help develop this ecosystem and bring in the design thinking. The idea is to ensure that at least 500 plus product start-ups get enabled tools programs, over 5,000 design thinking professionals to get paid and at least 50 or more award winning product should come out of this whole initiative, he stated. With this initiative, Nasscom intends to scale up the focus on product design and engage the young entrepreneurs into becoming problem solvers and solution builders, according to Chandrashekhar.

Julie Zhuo, VP Product Design at Facebook stated that the Product Design ecosystem is evolving swiftly and to seize this growth, they need to solve a few challenges like growing need for skilled designers and better design tools to produce great designs more effectively. At Facebook, they are passionate about design and would like to work alongside industry to foster innovation in product design in India, a nation known for great technology and engineering talent, she added.

President and Chief Executive of TripAdvisor Inc. (NASDAQ:TRIP) [Detail Analytic Report], Steve Kaufer commented during first quarter earning call that with the worldwide launch of instant booking now substantively complete, users across the globe can now seamlessly book hotels on TripAdvisor. Enabling users to book on TripAdvisor is an imperative step as they continue navigating the path towards creating the best user experience in travel.

TripAdvisor declared profit of $27 million in its first quarter. On a per-share basis, the Massachusetts-located firm reported that it had profit of 18 cents. Earnings, revised for stock option expense and amortization costs, came in 32 cents a share. The results trailed Wall Street outlooks. The average estimate of experts polled by Zacks Investment Research was for earnings of 46 cents a share. TripAdvisor declared its first quarter revenue of $352 million, which also missed Street forecasts. Shares of TripAdvisor have plunged 26 percent since the starting of the year, while the S&P 500 index has stayed nearly flat.

Ernst Teunissen, Chief Financial Officer of TripAdvisor added they were pleased that their first quarter Revenue and Adjusted EBITDA performance was in line with their internal anticipations. While instant booking remains dilutive to their Hotel segment revenue growth and profit margins in the near-term, they are pleased by early results and believe we are well-positioned for long-lasting growth.

About Richard Avery

He is a capital projects manager and process design engineer at a large-cap company. He has renowned MBA degree. Before joining SWR, he was a freelance writer for renounce tech websites. He is currently studying for CFP exam. Interests: Tech stocks, Economic Markets, Blue-chips.

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