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News Organisations to be Benefitted; as Social Media Giant, Facebook Announces $4.5 mn Investment

A recent announcement made by Facebook to invest an additional $4.5 million towards helping the news industry globally.

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New Facebook tool lets journalists scrutinise political ads. Pixabay
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Facebook has announced to invest an additional $4.5 million towards helping the news industry globally.

The social media giant, that reported more than $5 billion in profit in the second quarter this year, said it will give $3.5 million towards “Facebook Membership Accelerator”, a three-month pilot programme designed to help news organisations with membership models.

“We are going to continue to coach the group of metro news publishers from the pilot programme through the end of this year, and we will reconvene with them in 2019 to focus on subscriber retention,” Campbell Brown, Global Head of News at Facebook, said in a blog post on Thursday.

Facebook also announced to contribute $1 million to the 2018 “NewsMatch” campaign which matches individual donations to more than 100 non-profit newsrooms around the country.

News organisations to be benefitted from Facebook's recent announcement. VOA
News organisations to be benefitted from Facebook’s recent announcement. VOA

“Last year, ‘NewsMatch’ helped make 2017 a record-breaking year for giving to non-profit journalism and we are excited to help NewsMatch expand in 2018,” said Brown.

The “Facebook Membership Accelerator” will help non-profit news organisations and local, independent publishers with membership models build sustainable businesses, by providing supporters access to exclusive content and experiences through memberships.

An earlier “Local News Subscriptions Accelerator” programme from Facebook was designed to test strategies focused on growing digital subscription acquisitions for local publishers.

“We’re encouraged by the early successes of this programme, and proud of the tangible business results that publishers have accomplished so far,” Brown noted.

Facebook to invest an additional $4.5 million towards helping the news industry globally. Pixabay
Facebook to invest an additional $4.5 million towards helping the news industry globally. Pixabay

Facebook said it is also working with publishers across the US and Europe to test support for subscriptions in “Instant Articles”.

“Moving forward, we’ll also be exploring ways to support emerging models like membership directly on Facebook,” said Brown.

Also Read: Facebook announces huge investment to empower community leaders

On Thursday, Facebook announced its first partnership in India with Chennai-based Asian School of Journalism (ACJ).

Part of the Facebook Journalism Project, the partnership will establish a scholarship programme at ACJ and support five students in four career specialisations — print, new media, radio and television. (IANS)

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Facebook CEO Mark Zuckerberg Reaches Out to Microsoft President For Help

A recent CNBC report claimed that Facebook employees were contacting former colleagues to look for jobs outside the company

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Facebook's CEO Mark Zuckerberg. VOA

Embroiled in massive data scandals amid losing stock and market cap, Facebook CEO Mark Zuckerberg has reportedly spoken to Microsoft President Brad Smith exploring the possibility of him joining the social networking platform and bring it back to glory.

According to a report in The Information on Monday, Zuckerberg spoke directly to Smith on how to build trust at Facebook.

“While the conversation didn’t involve a formal job offer, Mr. Smith still felt compelled to let Mr. Zuckerberg know he was happy at Microsoft and had no desire to leave,” the report said, quoting a person familiar with the talks.

According to the report, Mark Zuckerberg usually seeks advice from billionaire Microsoft co-founder and philanthropist Bill Gates.

Another report from Wall Street Journal claimed last month that Gates suggested to Zuckerberg that Facebook consider hiring someone with a profile like that of Smith who can tackle regulators and lawmakers around the world — gunning for Facebook over frequent users’ data breaches and a recent expose of internal emails.

Facebook and Microsoft were yet to comment on the reports.

A New York Times investigation last month suggested that the social network under Chief Operating Officer (COO) Sheryl Sandberg hired a Republican-owned political consulting and PR firm that “dug up dirt on its competitors” including Soros.

Mark Zuckerberg
Facebook CEO reaches out to Microsoft President for help: Report. Flickr

Reacting to the report, Mark Zuckerberg and Sandberg denied they had any prior knowledge about this firm.

Later, Facebook’s outgoing Head of Communications and Policy Elliot Schrage took the full responsibility for hiring the political consulting and PR firm Definers Public Affairs.

Facebook has also lost the tag of best place to work in the US.

According to the leading job website Glassdoor’s annual “100 Best Places to Work in the US” list, Facebook is now ranked No 7 — scoring 4.5 out of a perfect 5.

Also Read- Actress Katrina Kaif Feels Herself Fortunate For Everything She Has Gone Through

The Glassdoor list came at a time when media reports said several Facebook employees are looking for better opportunities as scrutiny of the company’s conduct rises following several cases of data leak and as its stock price takes a beating.

A recent CNBC report claimed that Facebook employees were contacting former colleagues to look for jobs outside the company. (IANS)