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The social networking giant is undergoing a huge restructuring, switching up its executives and rearranging the company into three core product areas. Recode has a big report out with lots of the key details, and some Facebook execs are sharing info on Twitter.
A Facebook spokesperson confirmed the news of the re-organisation to Business Insider.
Facebook will now comprise of three key areas: Family of apps, led by chief product officer Chris Cox; New platforms and infrastructure, led by CTO Mike Schroepfer; and Central product services, led by VP of growth Javier Olivan.
To read more about Facebook's big shake-up, click here.
In related news:
Meet the new team leading Facebook after the company's biggest shakeup in history. Here are the execs tasked with running the various factions within the tech giant.
Facebook's reorganization is little more than chair-shuffling - and a missed opportunity for Mark Zuckerberg and company. The CEO just seems to be moving around executives and empowering long-serving lieutenants - changes unlikely to help the company rethink how it interacts with society.
In other news:
AT&T admitted it paid President Donald Trump's personal lawyer, Michael Cohen, in December 2017 for "insights" into the Trump administration. The bombshell revelation comes after the lawyer representing adult film star Stormy Daniels tweeted about the transactions.
Google is relaunching its news site with lots more artificial intelligence as part of its effort to fight fake news. The search giant announced at its developer conference Tuesday it's updating its Google News service.
Disney beats - but ESPN continues to struggle. The entertainment giant topped expectations on both the top and bottom lines, but revenue at ESPN continued to slide.
Walmart just scored a huge victory over Amazon with Apple's help. Jet.com is now a reseller of Apple products, including the iPhone, it announced on Wednesday.
Walmart is also buying a controlling stake in Indian e-commerce behemoth Flipkart. The deal values Flipkart at about $20 billion.
Cambridge Analytica's founder, Nigel Oakes, said the company won't be rebranding under a new name. There was speculation the firm could regroup under a new company, Emerdata, but Oakes revealed that company had gone into administration.
Corporate raiding, complacency, excess and incompetence are gutting Univision, a team of journalists from the Gizmodo Media Group Special Projects Desk reports. The story details how Univision has been in decline for years.