Sam Lessin, the vice president of product management of Facebook Inc (NASDAQ:FB) announced his resignation in a post on the company’s website yesterday. According to him, he will step down from his position effective August 29.
Lessin has no immediate plans
Lessin stated that he did not have immediate plans regarding his next move for his career, but he intends to assist his wife with online publication—The Information, whenever he can or she wants help.
Many famous hedge fund managers engage in philanthropy, often through their own foundations. Leon Cooperman of Omega Advisors founded his foundation with his wife Toby, and he invested the foundation's funds into many hedge funds and other assets. Q3 2021 hedge fund letters, conferences and more Here are Leon Cooperman's favorite hedge funds based on Read More
“This is the first time I can think of since middle school where I didn’t have a very concrete next step to take in life, and I intend to not squander the opportunity,” said Lessin.
He added, “If past performance is any indication, I will be starting something soon enough… What, I don’t know, but general volume of ideas has never been much of an issue for me.” For the meantime, Lessin said he will spend some time-off “kite surfing and skiing and general adventuring / possibly some trouble making.”
Facebook acquired Lessin’s startup in 2010
Lessin joined Facebook Inc (NASDAQ:FB) when the social network giant acquired his file-sharing start-up Drop.io in an all stock transaction in 2010.
At the time of the acquisition, the social network giant said, “We can confirm that we recently completed a small talent acquisition for Drop.io and acquired most of the company’s assets. We’re thrilled that Sam Lessin will be joining us at Facebook.”
The statement showed that Facebook Inc (NASDAQ:FB) was more interested with Lessin that the product of the start-up. In fact, the social network giant shutdown Drop.io following the acquisition.
Facebook CEO Mark Zuckerberg and Lessen are friends and fellow alumnus at Harvard University.
Lessin led the development of the Timeline feature and other important products of Facebook Inc (NASDAQ:FB). Last fall, his responsibility at the social network giant was reduced, according to some people familiar with the situation.
In his post, he left an impression that he enjoyed his tenure at Facebook Inc (NASDAQ:FB). According to him, “That Was A Great Game. Hurray!”