Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

META PLATFORMS, INC.

(FB)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Facebook digital wallet exec David Marcus to leave company

11/30/2021 | 01:40pm EST

Nov 30 (Reuters) - Facebook Inc financial technology executive David Marcus is leaving the social media company at the end of the year to start working on something new, he said on Tuesday.

Marcus had been overseeing Facebook's efforts to develop a digital currency known as Diem and a wallet app called Novi, and his departure adds to challenges for the fintech unit. He said that colleague Stephane Kasriel would take over.

"While there's still so much to do right on the heels of launching Novi — and I remain as passionate as ever about the need for change in our payments and financial systems — my entrepreneurial DNA has been nudging me for too many mornings in a row to continue ignoring it," Marcus said in a Facebook post.

In response, Chief Executive Mark Zuckerberg said, "We wouldn't have taken such a big swing at Diem without your leadership and I'm grateful you've made Meta a place where we make those big bets."

Marcus joined Facebook from PayPal in 2014 and had ran the social media company's Messenger chat service before switching to work on the financial tools.

Facebook, which rebranded last month as Meta Platforms Inc, scaled back global plans for Diem following concerns among regulators that the service could gain too much control over the money system, enable crime and harm users' privacy.

The goal of the project, previously known as Libra, now is to create a U.S. stablecoin pegged to the dollar to avoid the volatility that makes other cryptocurrencies challenging to use.

Facebook has begun testing Novi in Guatemala and the United States, allowing transfers of the stablecoin Pax Dollar. But some U.S. lawmakers last month said Facebook cannot be trusted to manage cryptocurrency and urged the company to discontinue the test immediately. Facebook said it was looking forward to engaging with the lawmakers. (Reporting by Paresh Dave in Oakland, California; Editing by Mark Porter and Richard Chang)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
META PLATFORMS, INC. 0.00% 294.64 Delayed Quote.-12.40%
PAYPAL HOLDINGS, INC. 0.72% 158.11 Delayed Quote.-16.16%
All news about META PLATFORMS, INC.
05:53aPope says fake news, disinformation on COVID, is human rights violation
RE
01:21aFacebook abandons crypto ambitions with diem asset sale.
AQ
01/27Dozens of U.S. states say Apple stifles competition; back 'Fortnite' maker
RE
01/27META PLATFORMS : Updates to End-to-End Encrypted Chats on Messenger
PU
01/27Meta Platforms Secures European Commission's Approval For Kustomer Buyout
MT
01/27DON'T LOOK UP : Stock Market Denial
01/27MARKETSCREENER'S WORLD PRESS REVIEW : January 27, 2022
01/27EU Conditionally Clears Facebook Acquisition of Kustomer
DJ
01/27WhatsApp has until end of Feb to clarify privacy policy change, EU says
RE
01/27Facebook wins conditional EU antitrust nod for Kustomer deal
RE
More news
Analyst Recommendations on META PLATFORMS, INC.
More recommendations
Financials (USD)
Sales 2021 118 B - -
Net income 2021 39 946 M - -
Net cash 2021 65 092 M - -
P/E ratio 2021 21,2x
Yield 2021 -
Capitalization 820 B 820 B -
EV / Sales 2021 6,41x
EV / Sales 2022 5,34x
Nbr of Employees 68 177
Free-Float 84,5%
Chart META PLATFORMS, INC.
Duration : Period :
Meta Platforms, Inc. Technical Analysis Chart | FB | US30303M1027 | MarketScreener
Technical analysis trends META PLATFORMS, INC.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 52
Last Close Price 294,64 $
Average target price 402,04 $
Spread / Average Target 36,5%
EPS Revisions
Managers and Directors
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer & VP-Engineering
Atish Banerjea Chief Information Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
Sector and Competitors
1st jan.Capi. (M$)
META PLATFORMS, INC.-12.40%819 618
KUAISHOU TECHNOLOGY14.30%44 896
MATCH GROUP, INC.-19.47%30 149
TWITTER, INC.-21.70%27 008
BUMBLE INC.-20.91%3 461
GREE, INC.2.60%1 300