Facebook has announced that Drew Houston, co-founder and CEO of Dropbox, has been appointed to the company's board of directors.
"Drew brings valuable perspective to our board as a leader of a technology company with services used by millions of people and businesses. He thinks deeply about where technology is going and how to build a culture that delivers services that always work well," Facebook founder and CEO Mark Zuckerberg said.
Houston, alongside co-founder Arash Ferdowsi, created Dropbox back in 2007. Prior to creating the cloud storage giant, he completed a bachelor's degree in Electrical Engineering and Computer Science from Massachusetts Institute of Technology (MIT) and worked at various startups.
In a statement, Houston said he looks forward to working with Facebook's board "on the many opportunities and challenges ahead".
Facebook has undergone various board changes over the past twelve months. In April last year, Netflix CEO Reed Hastings left Facebook's board after serving on it for eight years. Shortly after Facebook's decision to not re-elect Hastings, the social network added Paypal's senior vice president of core markets Peggy Alford, who became the first African-American woman to serve on its board.
With the addition of Houston, Facebook's current board members are: Mark Zuckerberg; Drew Houston; Peggy Alford; Marc Andreessen, founder of Andreessen Horowitz; Kenneth Chenault, chairman and managing director of General Catalyst; Sheryl Sandberg, the COO of Facebook; Peter Thiel co-founder of Founders Fund; and Jeffrey Zients, CEO of the Cranemere Group.
In its fourth quarter results released last week, Facebook revealed that it had, on average, 1.66 billion daily active users as of December 2019 -- an increase of 9% year on year. Its monthly active users totalled 2.5 billion as of December 31, 2019, an increase of 8% year on year.
"We had a good quarter and a strong end to the year as our community and business continue to grow," CEO Mark Zuckerberg said in a statement. "We remain focused on building services that help people stay connected to those they care about."
Social networks stopped being happy places some time ago. Some say that's a reflection of our society, others an illusion brought about by algorithmic manipulation. But both sides somehow being equal in this whole affair, isn't helping.
The company said paying users now sit at 14 million, as compared to 12.3 million for the same period last year.
Mark Zuckerberg's refusal to fact-check political advertising will help Trump re-election and help spread fake news and misinformation, writes George Soros in an opinion column.
The company says it is in the best interest of users and shareholders to pay up.
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