After 14 years at Meta (which used to be Facebook), Sheryl Sandberg is leaving the company. Sandberg was the company’s chief operating officer (COO), and after Zuckerberg, she was often seen as the second-in-command.
She made a lot of changes to Facebook and its other apps, like Instagram, Messenger, and WhatsApp. She wants to give more time and attention to her foundation and other charitable work. By the fall of this year, Sandberg will have left the company for good. She will still be on the board of directors for Meta.
Sandberg wrote a long post on her official Facebook page about her decision to step down. In her post, she talks about how she met Mark Zuckerberg at a party and ended up talking to him for the rest of the night. Sandberg also talks about how she didn’t get a job at Facebook until she had many “dinners and talks with Mark.” She says it was a chaotic job because Facebook was still a new company at the time.
“I would make plans to meet with an engineer at nine o’clock, but they never showed up. They thought I said nine o’clock because who would come to work at nine o’clock in the morning? We had some ads, but they weren’t doing well, and most advertisers I talked to wanted to take over our homepage as The Incredible Hulk movie did on MySpace,” she wrote.
She also said that her late husband Dave told her not to try to solve every problem with Mark, but instead to “set up the right process with him.” So, she asked Mark Zuckerberg for three things: “That we would sit next to each other, that he would meet with me one-on-one every week, and that during those meetings, he would tell me when he thought she had done something wrong. Mark said “yes” to all three, but he also said that the feedback had to go both ways.
Regulatory filings show that Facebook made $272 million in revenue at the time, but had a net loss of $56 million. By 2011, a year before the company went public for the first time, its sales had jumped to $3.7 billion and its profits had reached $1 billion.
At the end of 2021, Meta made $118 billion in sales and $39.4 billion in profits. Sandberg said in her post that after she leaves the company in the fall, she will still be on Meta’s board. When asked what she would do next, she told Reuters that she was focusing on giving back to the community at a “critical time for women.”
“So many great leaders have been hired. I’m very happy about that. The next group of leaders is in place to move the business forward “She named Marne Levine, who is Chief Business Officer, and Nick Clegg, who is President of Global Affairs.
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