Facebook shares news: Oculus Rift founder leaves tech giant

Facebook shares are seen opening lower, Tuesday, as Oculus Rift founder, Brendan Iribe leaves the firm in the 10th high profile departure, so far this year.

Facebook shares news: Oculus Rift founder leaves tech giant

Facebook shares closed higher in the US Monday, as reports emerged that Oculus Rift founder and a senior member of the tech giant’s broader team, is leaving the firm. That brings the total number of executives who have the company so far this year, to 10, as the tech giant has struggled with a variety of problems.

Facebook shares ended the US Monday session 0.47% higher at $154.78. However, the stock is currently almost 2% in the redm in pre-market activity.

Facebook loses another founder

Brendan Iribe announced in a Facebook post late Monday, that he is leaving Facebook. The founder of Oculus rift in 2012, which was purchased by Facebook in 2014, described his time with Oculus as incredible.

“Working alongside so many talented people at Oculus and Facebook has been the most transformative experience of my career,” Iribe wrote in his post.

“The success of Oculus was only possible because of such an extraordinary team effort. I'd like to sincerely thank everyone that's been a part of this amazing journey, especially Mark [Zuckerberg] for believing in this team and the future of VR and AR,” Iribe said.

Iribe’s departure follows less than a month after Instagram founders, Kevin Systrom and Mike Krieger also announced they were leaving the Silicon Valley giant. Likely telling of a tough relationship, their goodbye didn’t include any thanks to Zuckerberg.

Facebook removes Brazilian marketing pages

Separately and as it continues its fight against fake news, Facebook said it had shut down 68 pages and 43 accounts connected with Brazilian marketing agency, Raposo Fernandes Associados, “for violating our misrepresentation and spam policies.”

The social media platform said RFA had created fake accounts and multiple accounts with the same name, against its community standards. Those accounts were then used to post clickbait and other authentic looking ads, that were actually the product of ad farms.

“Today’s announcement of the removal of these Pages is just one of the many steps we have taken to prevent bad actors from interfering with Brazil’s elections on Facebook,” Facebook said.

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