TECH CRUNCH - Facebook's CTO Mike Schroepfer just announced that he would step down from the role next year and transition to a part-time position as a "Senior Fellow." He will be replaced by long-time executive Andrew Bosworth who has most recently led the company's Facebook Reality Labs. Bosworth will continue to lead the AR/VR organization in his new role.
1,448 posts categorized "Facebook"
Facebook's CTO to Step Down After 13 Years at the Company
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Facebook Invested ~$13B in Safety and Security
CNET - Facebook highlighted the progress it's made over the past several years to address challenges such as safety and security, misinformation, and responsible innovation. It has 40K people working on safety and security issues and has invested ~$13B in teams and technology since 2016. Facebook has disrupted and removed ~150 covert influence operations since 2017 and, with the help of AI tools, blocked 3B fake accounts in the 1H of 2021.
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Facebook Revamps Its Business Tool Lineup
TECH CRUNCH - Facebook launches new products and features for business owners, following the threat to its ad-targeting business driven by Apple's new privacy features, which now allow mobile users to opt-out of being tracked across their iOS apps.
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Facebook to Buy $100M Unpaid Invoices From Women and Minorities' Small Business
CNBC - Facebook announced a $100M commitment to a program that supports small businesses owned by women and minorities by buying up their outstanding invoices. The Facebook Invoice Fast Track program puts money in the hands of small businesses that would have to wait to get paid by their customers. Facebook estimates the program will support ~30K small businesses.
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Facebook Has 85% of Personal Social Networking Market and Must Be Broken up
WASHINGTON EXAMINER - Facebook controls 85% of the personal social networking market thanks to its acquisitions of Instagram and WhatsApp, making it an unlawful monopoly that has hurt consumers and competitors, the FTC argued in court documents released Wednesday.
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Facebook Test Brings Voice and Video Calls Back to Its Main App
ENGADGET - Aug 25 - Facebook has started testing a feature that gives users a way to place voice and video calls within the main app. It will only be available to a limited number of accounts. Testers will be able to call friends without having to access Messenger.
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The US Revives Facebook Suit, Adding Details to Back Claim of a Monopoly
NEW YORK TIMES - Aug 20 - FTC beefing up its accusations that Facebook was a monopoly that illegally crushed the competition in an attempt to overcome the skepticism of a federal judge who threw out the agency's original case two months ago. The updated suit is nearly twice as long and includes more facts and analysis that the agency says better support the government's allegations.
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Facebook to Test Facebook Reels in the US
TECH CRUNCH - Aug 20 - Facebook will begin testing a new feature, Facebook Reels in the US, which will give Facebook users the ability to create and share short-form video content directly within the News Feed or Facebook Groups. An expansion of tests launched earlier this year in India, Mexico, and Canada, including sharing existing Instagram Reels to Facebook.
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Facebook Delays Return to Office Until January 2022
MARKET WATCH - Aug 13 - Facebook has delayed the return of U.S. employees to the office until at least January 2022 because of continuing issues with the Delta variant. The social-networking giant originally said it expected about 50% office capacity in the U.S. by September and a full return by October.
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Facebook Warns of Significant Slowdown in Sales Growth
REUTERS - July 29 - Facebook expects revenue growth in Q3 and Q4 to "decelerate significantly," sending the social media giant's shares down ~5% in extended trading. The company's total revenue, which primarily consists of ad sales, rose to $29.08B in Q2 from $18.69B a year earlier. The world's largest social network's revenue from advertising rose 56% to $28.58B in Q2. MAU came in at 2.90B, up 7% from the same period last year. Net income rose to $10.4B, or $3.61 per share, from $5.18B, or $1.80 per share, a year earlier.
by Elizabeth Culliford & Nivedita Balu
See full article at Reuters
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Against Rules, 37.8% 10-year-olds Have Facebook Accounts, 24.3% on Instagram
PRESS TRUST OF INDIA - July 26 - ~37.8% of children aged 10 yrs have Facebook accounts, while 24.3% in the same age group are on Instagram, which is in contravention to the guidelines laid down by various social networking platforms. The age barrier for creating an account on Facebook and Instagram happens to be 13 yrs.
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Facebook Will Lure Creators With $1B in Payments
TECH CRUNCH - July 15 - Facebook plans to pay content creators ~$1B by the end of next year through new bonus programs designed to keep creatives plugged into its app ecosystem. The bonus programs will have a dedicated hub within the Instagram app later this summer and in the Facebook app later this year.
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Trump Files Lawsuits Against Google, Facebook and Twitter
CNET - July 8 - After being banned earlier in the year, former President Donald Trump said he's filed lawsuits accusing Google, Facebook, Twitter and their CEOs of First Amendment violations for alleged censorship. Lawsuits that allege censorship and that argue social media companies violate the First Amendment when they remove posts or ban users have repeatedly been rejected by courts across the country.
by Erin Carson & Queenie Wong
See full article at CNet
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Facebook Purges Millions of Posts in Just 4 Weeks
ASIANET NEWS - July 5 - Facebook has published the first edition of its compliance report under the new Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021. It revealed that the social network had taken action upon 30M contents across ten violations categories during May 15-June 15. The social network would continue to use a combination of AI, community reports, and reviews by its teams to identify and review content against the platform's policies.
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Facebook Hits $1T Market Cap After Federal Court Dismisses FTC Antitrust Complaint
CNN NEWSWIRE - June 30 - A federal court has dismissed the FTC's antitrust complaint against Facebook, saying the agency had failed to provide evidence for its claim that the social media giant holds a monopoly in social networking. Judge James Boasberg wrote that the FTC did not do enough to back up its assertion that Facebook holds a 60%+ share of the social media market. Facebook's stock ended Monday up ~4% following the news, pushing the company's market value above $1T for the first time.
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