Vastal Mehta is the brain behind Facebook’s successful advertising campaigns.
According to him, Facebook is increasingly improving its machinery for better efficiency.
The company is going to ensure that no distributor use its tools in a wrong way.
Facebook owes Indian-origin engineer, Vastal Mehta, a lot for its success in generating billions of dollars in ad revenues every year as he steers the team that works with advertisers to build the technology and infrastructure needed to run more effective campaigns on the platform.
When he started out on this in 2010, Mehta was the lone engineer in the team and now, he serves as Facebook’s Director of Solutions Engineering and leads a team of more than 100 people which is responsible for Facebook’s huge ad revenues.
According to emarketer.com, Facebook earned a whopping $17.37 billion in digital ad revenue in the US in the third quarter of 2017 and is expected to reach $21.57 billion in 2018 and $25.56 billion in 2019.
Mehta said that when he first started working on this seven years ago, it was a very different landscape, both for mobile and for Facebook — which had not introduced advertising into the News Feed at that time.
According to Tech Crunch, at this time the company was trying to shift in a big way towards mobile and advertisers were finding it difficult to adapt to the change.
“For example, travel companies didn’t have teams set up to reach consumers with mobile advertising. We knew that we needed to invest in helping businesses build infrastructure to power their mobile advertising, so I started a team that could help businesses in this sort of bespoke way,” Mehta was quoted as saying.
Mehta realised this and is now working to offer its biggest advertisers some degree of technical support by building the products.
Mehta said, dynamic ads were first inspired by the complaints of an advertiser he was meeting with in Hamburg, Germany and he then worked with the Facebook Ads team to create a prototype eventually leading to a more polished product and broader availability.
Facebook said that, on average, clients working with the solutions engineering team see their return on ad spend improve by 100 per cent.
Mehta says that Facebook is now increasingly spending time in incorporating more machine learning into solutions and driving efficiency through technology.
“This includes building better optimisation tools that help the client without them needing to adjust and turn nobs in the interface. We see this as a huge area of investment across our business over the next year,” he was quoted as saying.
Earlier this month, Facebook COO Sheryl Sandberg said that the social media giant would take a closer look at its advertising policies to ensure that advertisers do not use Facebook tools in a discriminatory way. IANS
Facebook already rules daily communication for more than 2 billion people around the world. Now it wants its own currency, too.
The social network unveiled an ambitious plan Tuesday to create a new digital currency similar to Bitcoin for global use, one that could drive more e-commerce on its services and boost ads on its platforms.
But the effort, which Facebook is launching with partners including PayPal, Uber, Spotify, Visa and Mastercard, could also complicate matters for the beleaguered social network. Facebook is currently under federal investigation over its privacy practices, and along with other technology giants also faces a new antitrust probe in Congress.
Creating its own globe-spanning currency — one that could conceivably threaten banks, national currencies and the privacy of users — isn’t likely to dampen regulators’ interest in Facebook.
The digital currency, called Libra, is scheduled to launch sometime in the next six to 12 months. Facebook is taking the lead on building Libra and its underlying technology; its more than two dozen partners will help fund, build and govern the system. Facebook hopes to raise as much as $1 billion from existing and future partners to support the effort.
Company officials emphasized Libra as a way of sending money across borders without incurring significant fees, such as those charged by Western Union and other international money-transfer services. Libra could also open up online commerce to huge numbers of people around the world who currently don’t have bank accounts or credit cards.
“If you fast forward a number of years, consumers all over the world will have the ability to access the world economy,” Facebook executive David Marcus said in an interview with The Associated Press.
Facebook also could use its own currency to drive more people to make purchases from ads on its social media sites, said Gartner analyst Avivah Litan, who based her comments on press reports about Libra that preceded Facebook’s formal announcement. “This is about fostering more sales within an ad to get more business from advertisers to make ads more interesting on Facebook,” she said.
Backing by familiar corporations might also make Libra the first Bitcoin-like currency with mass appeal. Such “cryptocurrencies” have generally failed to catch on despite a devout following among curious investors and innovators. Bitcoin itself remains shrouded in secrecy and fraud concerns, not to mention wild value fluctuations, making it unappealing for the average shopper.
Libra will be different, Facebook says, in part because its value will be pegged to a basket of established currencies such as the U.S. dollar, the euro, the yen and others. Each purchase of Libra will be backed by a reserve fund of equal value held in real-world currencies to stabilize Libra’s value.
To be sure, recent history reminds us that many big Facebook announcements never really take off. Two years ago, for instance, Facebook CEO Mark Zuckerberg promised that “augmented reality,” in which phones and other devices project digital images into real-world surroundings, would be a major focus for the company. Such AR applications remain all but invisible today. Same goes for the online shopping chatbots that Zuckerberg unveiled a year earlier, saying they would revolutionize e-commerce in its Messenger app.
Facebook won’t run Libra directly; instead, the company and its partners are forming a nonprofit called the Libra Association, headquartered in Geneva, that will oversee the new currency and its use. The association will be regulated by Swiss financial authorities, Facebook said.
“No single company should operate this,” Marcus said. “It should be a public good.”
The company has also created a new subsidiary, Calibra, that is developing a digital wallet to allow people to buy, send and use Libra. Calibra pledges that it won’t share transaction data from details of Libra user’s financials with Facebook unless compelled to do so in criminal cases. Still, if people are using Facebook products to buy things and send money, it’s possible Facebook will be able to track some data about shopping and money transferring habits.
Calibra won’t require users to have a Facebook account to make a free wallet. And it will allow people to send Libra back and forth on two of Facebook’s core messaging apps — WhatsApp and Messenger. Instagram messages won’t be included, at least at first.
Libra partners will create incentives to get people and merchants to use the coin. That could range from Uber discounts to a Libra bonus paid when users set up a Calibra wallet, although the companies haven’t laid out specifics.
Many privacy questions remain unanswered, though. Cryptocurrencies such as Libra store all transactions on a widely distributed, encrypted “ledger” known as the blockchain. That could make the Libra blockchain a permanent record of all purchases or cash transfers every individual makes, even if they’re stored under pseudonyms rather than real names.
Facebook said that if people use Calibra or similar wallets, their individual transactions won’t be visible on the Libra blockchain.
Earlier this year, Zuckerberg announced a new privacy-focused vision for the company after months of backlash for its treatment of personal customer information. Zuckerberg’s vision — which has mostly not been detailed publicly — will rely heavily on privacy-shielded messaging apps in an attempt to make the services more about private, one-to-one connections.
Many analysts believe Zuckerberg wants to create a U.S. version of the Chinese service WeChat, which combines social networking, messaging and payments in a single app. Libra would take Facebook a step closer to that end. (VOA)