• Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

  • To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

  • Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

All data is delayed
Loading...
See More

Top Facebook exec joins Tech City

Oct 21 2012 05:33
Reuters

London - Joanna Shields, head of social media group Facebook's operations in Europe, is leaving to join a British government-sponsored venture to create London's answer to Silicon Valley.

Tech City Investment Organisation was set up in April 2011 to attract inward investment focused on an area in London's east End, dubbed "silicon roundabout" and supporting start-ups looking to expand.

It has signed up companies including Cisco, Google and Intel.

"The success of Tech City shows just what can happen when we back some of our most innovative and aspiring companies to grow," Prime Minister David Cameron said in a statement on Sunday.

Shields, will join TCIO in January, said she would lead a drive that hopes to make London the number one location for tech in the world.

Her departure will be a blow to Facebook, the world's biggest social network, as the US group seeks to reassure shareholders after a rough reception on Wall Street since its high profile listing in May.

Concern about its slowing revenue growth rate has seen its market valuation halve - Facebook shares closed at $19.00 on Friday, compared with a $38.00 issue price in May.

"Facebook supports the UK Government's vision for building a stronger technology-based economy and start-up ecosystem, and we wish Joanna every success," a company spokesman said.

Earlier this week, Facebook opened an engineering centre in London, its first outside the United States.

facebook

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...