Why is Facebook Inc (NASDAQ:FB) very aggressively expanding into areas one wouldn’t initially associate with social networking? It has a lot to do with Mark Zuckerberg, the company’s CEO, according to its COO Sheryl Sandberg.
The comment was made by Sandberg in an exclusive interview with Reuters where she discussed just why Facebook Inc (NASDAQ:FB) is ramping up hiring in fields as diverse as virtual reality to satellite internet.
“We are an ambitious company run by an ambitious CEO. Our users are growing and our business is growing and we want to support that,” the chief operating officer is quotes as saying by Reuters.
Facebook Inc (NASDAQ:FB), based on data culled by the news organization from the company’s job postings, is readying to add about 1,200 jobs to its roster. In the near term, the company will be expanding its stable of talents by as much as 14%, Reuters said.
Areas of interest for the world’s largest social networking site with an estimated 1.35 billion users include virtual reality and a satellite network to grow the world’s internet access. That latter project is very much like the project QUALCOMM, Inc. (NASDAQ:QCOM) and Virgin Galactic LLC recently invested in. Google Inc (NASDAQ:GOOGL) also has a similar project.
As for the virtual reality play of the social media giant, Reuters reports that included in the positions Facebook Inc (NASDAQ:FB) wants to fill are logistics and supply chain managers which point to the Oculus Rift virtual reality headgear nearing consumer release.
Oculus VR was bought by Facebook last year for $2 billion. The company’s CEO and co-founder, Brendan Iribe, recently expressed how thrilled he is that Facebook has enabled his firm to massively scale.
Israel Englander’s Millennium Management reported ownership of about 1.48 million Facebook Inc (NASDAQ:FB) shares by the end of the third quarter of 2014.