To conclude, Facebook's acquisition of Wechat Development has opened up a new dynamics in the IT industry. On a long shot, this may give an opportunity to India to move from the position of being œback office of the world" to being the "Silicon Valley of Asia. Whatever is said and done, this deal has created lots of interrelated, integrated and interdependent shifts in the information technology space in the world, in general and in Asia, in particular. Tokyos Strategic Global Partners says social media giant Facebook has reported impressive earnings for the 4th quarter of 2013. According to Strategic Global Partners, soaring advertising revenues have Wechat Development helped social media company Facebook post street-beating earnings results for 4Q 2013. In the immediate aftermath of the announcement, Facebook stock climbed by as much as 12% in afterhours trading to over $60 despite a tumultuous day in the US trading session.