Spaniard Javier Olivan is taking over as the company's chief operating officer after playing a crucial but largely behind-the-scenes role stoking company's growth for 15 years. Sandberg said in her post that she will continue to serve on Meta's board after leaving the company in the fall. The second-in-command to founder Zuckerberg, who was 23 years old when he hired her, Sandberg is one of the most visible executives at the company and the lead architect of its often-criticised ads-based business model.īringing management experience and knowledge of the then-nascent digital ads industry, she transformed Facebook from a buzzy startup into a revenue behemoth, while also positioning herself as the face of feminism in corporate America.Īt the time, Facebook was making $272 million (€255 million) in revenue, for a net loss of $56 million (€52.5 million), according to regulatory filings. Meta ended 2021 with revenue of $118 billion (€110 billion) and earnings of $39.4 billion (€37 billion). Sandberg's departure marks an end of an era for Meta, which is shifting focus toward hardware products and the "metaverse" after years of scandals over privacy abuses and the spread of conspiratorial content on its platforms, as well as plateauing user growth on its flagship app Facebook. The metaverse could add $3 trillion to the global economy within a decade, new study suggests.
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