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Mark Zuckerberg Wants To Sell Up To 75 Million Facebook Shares

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San Francisco, September 24, 2017: Facebook CEO Mark Zuckerberg has said he wants to sell 35-75 million Facebook shares in the next 18 months to fund the company’s work in education, science, and advocacy.

“Over the past year and a half, Facebook’s business has performed well and the value of our stock has grown to the point that I can fully fund our philanthropy and retain voting control of Facebook for 20 years or more,” Zuckerberg wrote in a post.

He said his wife Priscilla and he feel a responsibility to do their part to address global challenges — like curing all diseases in their children’s lifetime and personalising education for every student.

ALSO READ:Social Media Giant, Facebook Introduces Ad Performance Measurement Solutions

He also asked the company’s board to withdraw the proposal to reclassify the stock that he proposed to create last year.

The idea of the proposal was that it would allow Zuckerberg to keep voting control of Facebook so the company can continue to build for the long term and allow Priscilla and him to fund the work the were doing through the Chan Zuckerberg Initiative. (IANS)

 

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Facebook Set to Launch a Petitions Feature For its Users

"There are some limits already: users can't tag President Donald Trump or Vice President Mike Pence," said another report in The Verge

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A television photographer shoots the sign outside of Facebook headquarters in Menlo Park, Calif. VOA

Facebook is set to launch a petitions feature called “Community Actions” that will let users request change from their local and national elected officials and government agencies.

According to a report in TechCrunch late Sunday, “Community Actions” will be a petition feature in Facebook’s News Feed and reach users in the US on Tuesday and other markets later.

“Users can add a title, description, and image to their ‘Community Action’, and tag relevant government agencies and officials who’ll be notified,” the report added.

Supporters for any given petition will be able to discuss the topic with fellow supporters, creating events and fundraisers.

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This photo shows a Facebook app icon on a smartphone in New York. VOA

However, the “Community Actions” feature could also provide “vocal interest groups a bully pulpit from which to pressure politicians and bureaucrats with their fringe agendas”.

According to a Facebook spokesperson, “Community Action” is another way for people to advocate for changes in their communities and partner with elected officials and government agencies on solutions.

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Since bad actors can misuse such features, Facebook will use “a combination of user flagging, proactive algorithmic detection, and human enforcers,” to safeguard the “Community Action” feature from falling into wrong hands.

“There are some limits already: users can’t tag President Donald Trump or Vice President Mike Pence,” said another report in The Verge. (IANS)