Sheryl Sandberg News

Facebook is generating money in a troubled global economy, COO Sheryl Sandberg said, pointing to the site's increasing value as it heads toward its initial public offering.

Facebook has hired Joe Lockhart, who handled former President Bill Clinton's turbulent second term media campaign, including his impeachment hearings, in a move to beef up its team amid growing scrutiny for its privacy practices.

Facebook is in talks with former White House press secretary Robert Gibbs about joining its communications team, an indication the social networking site is buttressing its stable of Washington insiders amidst increased scrutiny over privacy issues and a future IPO.