Meta Platforms has agreed to settle a lawsuit brought by users who accused its Facebook platform of improperly sharing personal data with third parties including, most notoriously, the now-defunct Cambridge Analytica. Financial details were not disclosed, but on Friday both Meta and the plaintiffs said in a joint filing in San Francisco federal court that the parties reached a tentative settlement. The UK-based Cambridge Analytica shuttered in 2018 after a scandal involving use of Facebook data to influence voters in the 2016 U.S. presidential election. Continue reading Meta Tentatively Settles the Cambridge Analytica Privacy Suit

Sheryl Sandberg announced that she will be resigning from her 14-year tenure as the chief operating officer of Meta Platforms, the company formerly known as Facebook. She will be replaced by Meta’s chief growth officer Javier Olivan and maintain a seat on the company’s board of directors. Sandberg will work with Meta CEO Mark Zuckerberg to transition out of her role as COO and officially step down this fall. Recognized by Zuckerberg and others as the primary architect of Facebook’s advertising business, Baird analyst Colin Sebastian said Sandberg developed “one of the strongest business models in the digital economy.” Continue reading Sheryl Sandberg Is Stepping Down as COO of Meta Platforms

Facebook chief executive Mark Zuckerberg announced updates to Shops, a new version of an existing Facebook feature that lets retailers upload product catalogs to their Facebook page or Instagram profile. Users can access Shops on the retailer’s page or, by clicking on an ad, will land on the retailer’s Facebook-located Shop. Zuckerberg stated that Shops will eventually be available on Messenger and WhatsApp as well. The company relies on several AI systems, including GrokNet, which can “segment, detect and classify images.” Continue reading E-Commerce: Facebook Reveals AI-Powered Shops Feature

Facebook is undergoing the biggest reorganization in the company’s history. Messenger, WhatsApp, and Facebook’s core app will get new leaders, while the company’s product and engineering organizations will be reorganized into three main divisions: the “Family of Apps” group, run by chief product officer Chris Cox, will include social apps Facebook, Instagram, Messenger and WhatsApp; the “New Platforms and Infrastructure” group, managed by CTO Mike Schroepfer, will cover AI, AR, VR, and blockchain tech; and the “Central Product Services” group, headed by VP of growth Javier Olivan, will handle shared features across products and apps, including advertising, analytics, and security. Continue reading Facebook Restructures With Executive Shuffle, New Divisions