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Report: Facebook Shuffles Top Management, eyes Blockchain

"We may also be notified of such incidents or activity via the media or other third parties," Facebook said

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Facebook, video chat
LinkedIn faced probe for Facebook ads targeting 18 mn non-members. Pixabay

Mired in a massive data breach controversy, Facebook has reportedly rolled out biggest-ever shuffle at the senior management level since its inception — across platforms, including WhatsApp and Messenger.

According to tech news website Recode, Facebook has made long-time executive Chris Cox in-charge of Facebook, Instagram, WhatsApp and Messenger — now called a “family of apps”.

“Facebook is also building a new team dedicated to Blockchain technology. David Marcus, the executive in-charge of Facebook’s standalone messaging app, Messenger, is leaving that post to run the Blockchain group,” the report said late on Tuesday.

Also Read: New Facebook Warns About Phishing Attacks

The Blockchain team would come under “New platforms and infra” run by Chief Technology Officer (CTO) Mike Schroepfer, who will also take care of Facebook’s AR, VR and Artificial Intelligence initiatives.

Facebook executive Javier Olivan, Vice President of Growth, will oversee the third division titled “Central product services”.

This vertical will include shared features that operate across multiple products or apps such as ads, security and growth.

Facebook.
Facebook. Pixabay

“Adam Mosseri, the Facebook product executive who runs News Feed, is headed over to Instagram to become the company’s new VP of product,” the report claimed.

Meanwhile, Chief Operating Officer Sheryl Sandberg will keep her duties.

Facebook on Tuesday announced the appointment of Jeff Zients, CEO of Cranemere, to the company’s board of directors and audit committee, effective May 31.

In a jolt to Facebook, WhatsApp co-founder and CEO Jan Koum in April decided to move on amid reports that he had a difference of opinion with parent company Facebook over data privacy, encryption and other issues.

After the Cambridge Analytica data scandal, Facebook has warned investors that more users’ data scandals in the future may adversely affect the social networking giant’s reputation and brand image.

Also Read: Facebook Ensuring Its AI System to be Equally Neutral For All

In its quarterly report shared with the US Securities and Exchange Commission (SEC), without mentioning Cambridge Analytica, Facebook said that its ongoing investments in safety, security and content review will identify additional instances of misuse of user data.

“We may also be notified of such incidents or activity via the media or other third parties,” Facebook said.

Appearing before the US Congress, Facebook CEO Mark Zuckerberg told the lawmakers that his own personal data was part of 87 million users’ that was “improperly shared” with the British political consultancy firm Cambridge Analytica which has not shut down operations. (IANS)

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Facebook To Invest Over $300 mn to Support Local News

"This year, we'll commit over $20 million to continue our local 'Accelerator' programme in the US and to expand the model globally, including in Europe," said Brown

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Facebook
Facebook commits $300 mn to support local news. Pixabay

Facebook has announced to invest over $300 million over the next three years to support local news organisations.

In a blog post, Campbell Brown, Vice President, Global News Partnerships, said that Facebook wants to support local journalists and newsrooms with their news gathering needs in the immediate future and help these organisations build sustainable business models, through both its product and partnership work.

“We heard one consistent answer: people want more local news, and local newsrooms are looking for more support. That’s why today we’re announcing an expanded effort around local news in the years ahead,” Brown said late on Tuesday.

In 2018, Google also committed $300 million for over three years to strengthen quality journalism, support sustainable business models and empower newsrooms through technological innovation.

Facebook
Facebook, social media. Pixabay

It was also committing to spend $300 million over the next three years on its various journalism-related projects.

According to Facebook, it would invest $300 million in news programmes, partnerships and content.

Among the components is a Pulitzer Centre — a $5 million endowment gift to launch “Bringing Stories Home”, a gift that will provide local newsrooms across the US with reporting grants to foster coverage on topics that affect local communities.

Also Read- Microsoft to End All Support For ‘Windows 7’ in 2020

“Report for America” is a $2 million investment in the initiative to place 1,000 journalists in local newsrooms across America over the next five years.

“This year, we’ll commit over $20 million to continue our local ‘Accelerator’ programme in the US and to expand the model globally, including in Europe,” said Brown. (IANS)