After three years guiding the social network's ad strategy, Facebook Product Director of Ads Gokul Rajaram is jumping ship.
Buzzy mobile payment company Square said Thursday that it has hired the social-networking executive to lead its product engineering efforts and oversee software development for, its point-of-sale system for businesses.
Rajaram joined Facebook when his startup Chai Labs was acquired by the company in August 2010. Since then, he has served as an instrumental moneymaker for Facebook, guiding the social network through a number of significant advertising initiatives, such as Facebook Exchange and mobile ad releases, that have helped the company better monetize the attention of its 1.11 billion users.
Facebook's loss is Square's gain. The former Facebook executive knows a thing or two about making money on a grand scale, having spent more than a decade in advertising and previously managing Google AdSense.
"I've been fortunate to work for two mission-driven, world-changing companies, and Square's vision and passion for helping businesses grow is inspiring," Rajaram said in a statement. "I'm thrilled to join the team and help build amazing products that drive economic growth and empower local businesses around the world."
Rajaram's decision to leave Facebook closely follows the exit of several other notable executives. General counselis currently on his way out the door, and , Facebook's global head of brand design, left at the end of May. Earlier this year, the company lost high profile leaders like product director , accounting chief David Spillane, and engineering director .