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Facebook’s Sandberg Inaugurates Startup Incubator in Tel Aviv

Facebook’s Chief Operating Officer, Sheryl Sandberg, has inaugurated the social media giant’s new business incubator in Tel Aviv. Called Playground, the venture is dedicated to boosting the local startup ecosystem by offering an open, interactive space to companies, developers and artists. Another aim of the project is to bridge social gaps by making technology accessible to disadvantaged populations. “Our goal is to use this physical space and the work we do online to bring together entrepreneurs, big businesses, small businesses, nonprofits, NGOs and communities,” Sandberg said at Wednesday’s launch event. Sandberg oversees Facebook’s financial dealings, including the ads that generate most of the company’s income. She has helped grow Facebook from 100 million users when she joined the tech company to some 2.7 billion today. In 2018, Facebook declared revenues of almost $56 billion. Nevertheless, Sandberg and founder Mark Zuckerberg have come under intense fire over the past two years for scandals involving fake news, election interference, hate speech and privacy-related data issues.