Univision’s former chief Ted Zagat has joined Facebook, where he will be in charege of the payments business.
Zagat confirmed the move in a email he sent to his colleagues and friends: "I recently joined Facebook, where I’m helping to build the Payments business", he noted, "Payments are one of the ways that Facebook monetizes its offering. Payments currently center on Facebook Credits, a virtual currency launched in 2010 to facilitate transactions. My team focuses on strategy, partnerships, and operations, while supporting the growth of our Advertising and Local businesses."
Zagat was the President of his family business from 1999 to 2007. From 2007 until now, he led Univision’s Franchise Development & Strategic Partnerships group, which included licensing, e-commerce, live events, and financial services businesses as well as strategic partnerships.
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