Meta Moves On Without COO as Sandberg Exits After 14 Years
Sheryl Sandberg officially steps down as Meta's COO after 14 years, and Mark Zuckerberg does not plan to replace her. Meanwhile, Opendoor faces a massive FTC fine and Shopify invests heavily in Klaviyo.
Sheryl Sandberg officially steps down from her role as Meta's Chief Operating Officer after 14 years with the company. Her departure marks a significant shift in the company's leadership structure, as Mark Zuckerberg does not plan to hire a replacement for the top operational role. This exit is part of a broader restructuring effort currently underway at the social media giant.
In other major tech news, the Federal Trade Commission slams Opendoor with a $62 million settlement over deceptive marketing claims. The FTC states that the real estate company falsely promises homeowners they will make more money selling to Opendoor rather than listing on the open market. Separately, Shopify makes a major strategic move by investing $100 million into Klaviyo, a marketing automation platform.
The startup world also sees notable activity as Sprig raises $30 million for its product research tools, bringing its total funding to $90 million. Industry experts predict a shift in the startup landscape, with Redpoint managing director Annie Kadavy suggesting that fewer new companies will launch in the coming year compared to the previous two. Additionally, the SEC charges 11 individuals tied to a crypto pyramid scheme called Forsage, adding to a week full of regulatory actions.