Facebook appoints top Google advertising exec as COO

Source: Exec Digital USA

Date :05/03/2008 03:41:16

Social networking site Facebook today announced that Sheryl Sandberg will join as COO in a move that analysts believe will aid valuable advertising expertise to the company.

Despite the massive advertising potential of Facebook, so far it has failed in its efforts to fully monetize the data it holds on its 66 million registered users. Its most high profile attempt, ‘Beacon,’ tracked users' purchases and actions at dozens of Web sites, reporting the data back to their registered ‘friends.’ The tool caused much controversy, and the company has since apologized for its introduction.

High-profile investment

Many believe that that Ms. Sandberg, with her considerable experience in online advertising, will help Facebook capitalize on the potential that saw Microsoft paid $240 million for a 1.6 percent stake in the company back in October.

Ms. Sandberg joins Facebook after six years at Google, where she served as Vice President of Global Online Sales & Operations, managing Google’s online sales channels for both AdWords and AdSense. Prior to Google, Sandberg was Chief of Staff to the U.S. Treasury Secretary under President Bill Clinton.

“Sheryl is a great manager who will help scale Facebook's operations globally,” said Mark Zuckerberg, the company’s 23 year old Chief Executive. “She has relevant experience and a track record of scaling business operations and building new kinds of advertising networks. Sheryl understands Facebook’s goal of connecting everyone in the world and is passionate about building a business that will enable us to realize this mission.”

‘Thrilled’

“I have learned so much during my time at Google, and I’ve loved working with the people there,” said Ms. Sandberg. “Together, with Mark and the great team at Facebook, we’ll be able to scale this company into a global leader and enable Facebook users worldwide to communicate and share information better. I am thrilled to have this opportunity.”

March 5, 2008