Facebook Inc.’s board of directors threw its support behind Chief Operating Officer Sheryl Sandberg on Wednesday, saying that it was “entirely appropriate” for her to ask if George Soros had shorted the company’s stock after the billionaire investor called the social-media giant a “menace.”
Internal emails show Facebook Inc. considered charging companies for continued access to user data several years ago, a step that would have marked a dramatic shift away from the social-media giant’s policy of not selling that information, according to an unredacted court document viewed by The Wall Street Journal.
Social media platforms have reached a crucial point, Instagram co-founder Kevin Systrom said.
Facebook Inc. recorded lower third-quarter revenue than expected and warned that it is in the early stages of a transformation in its core businesses that will lead to slower growth and higher costs in the short term.
Facebook Inc. said it suspended Cambridge Analytica, a data firm that helped President Donald Trump with the 2016 election, after learning that it misled the social-media giant and violated its policy for handling user data.