To encash the festive opportunity, Facebook has come up with a unique shopping fest named as ‘’Tied Together’’ on account of Raksha Bandhan. The social giant joined hands with media agency GroupM and will set up a website between August 12 and August 29, according to Economic Times report.
Facebook would use its subscriber base and social networking platform to drive traffic to the shopping site. Companies participating will have to pay a certain amount that will be shared by Facebook, GroupM and other media agencies.
Facebook is looking for a title sponsor at an asking rate of Rs 3 crore along with a principal sponsor at a similar rate besides associate sponsors for Rs 1.5 crore each. The social networking giant has 11.2 crore users in India.