Updated: Facebook has hired Google executive Sheryl Sandberg as chief operating officer.
In a statement, Facebook said that Sandberg will start March 24. She will be responsible "for helping Facebook scale its operations and expand its presence globally." Sandberg will report to Zuckerberg and manage "sales, marketing, business development, human resources, public policy, privacy and communications."
Sandberg (right) joined Google in 2001 and brings a lot of management expertise to Facebook. Before Google she was the Chief of Staff for the United States Treasury Department, where she helped lead its work on forgiving debt in the developing world.
With Sandberg, Zuckerberg's team will have the management heft to scale the company up. And oh yeah the sales chops won't hurt either.
A quick look at the winners and losers:
Sandberg is a big winner. Can you imagine cashing in on Google options and then hopping to Facebook to get pre-IPO shares?
Zuckerberg is a winner. Sandberg can teach him a few management lessons.
Google is a slight loser. Given the way Google hires it's safe to say it has others on the bench waiting to take over.