An Indian billionaire who promised to help fund a rival to Facebook said Wednesday he had been "overwhelmed" with the response as the world grapples with concerns about data privacy. Anand Mahindra, whose Mahindra Group business empire spans everything from cars to real estate, sparked a flurry of brainstorming as Facebook reels from a scandal over the misuse of its user data.
The social media giant has been under pressure to explain how data on up to 50 million users was allegedly taken from Facebook and used in political campaigns.
Mahindra earlier this week urged India's tech entrepreneurs to devise "our own social networking company" and offered seed funding to startups to get the better ideas rolling.
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