Google’s advertising business will have a new leader.
Sridhar Ramaswamy ,Senior Vice President of Ads & Commerce at Google, is leaving the company to join venture capital firm Greylock Partners. Prabhakar Raghavan will replace him as the advertising chief at Google. Google CEO Sundar Pichai said in a statement that he "can think of no better person to lead our monetization efforts" than Raghavan. "Prabhakar has incredible management experience, and the deep technical expertise to match," Pichai says. Raghavan was a vice president of engineering for Google's Cloud apps.
Google and Facebook together rake in 60% of U.S. digital ad spending last year, according to research firm eMarketer. Last quarter, Google parent company Alphabet's 86 percent of $32.65 billion in revenue was attributed to its advertising segment.