Decentralized Social appoints former Meta Exec as COO

Decentralized Social appoints former Meta Exec as COO

[PRESS RELEASE – Los Angeles, California, 22nd November 2022]

Salil Shah joins DeSo from senior roles at Meta and Pinterest, most recently heading global marketing for Meta Fintech

Key points to remember

  • Former Meta and Pinterest executive Salil Shah has joined DeSo, a blockchain platform that raised $200 million from Sequoia, Andreessen Horowitz, CAA and Coinbase.
  • The announcement comes as DeSo has seen two straight months of more than 120% month-over-month growth, especially as consumers seek out open and decentralized alternatives with Twitter turmoil.
  • Shah’s motivation to join comes from his belief that DeSo has the potential to transform the creator economy.

DeSo is the first layer 1 blockchain capable of supporting content-rich social applications and has raised over $200 million in funding from Sequoia, Andreesen Horowitz, Coinbase, CAA and others. DeSo is well positioned to power next-generation Web3 applications that provide more ownership, transparency, and control to creators and their fans.

After years of developing the category definition technology underlying the platform, DeSo has now hired Salil Shah to scale the business. Shah has deep experience in business development, go-to-market and partner ecosystems, most recently leading global go-to-market for Meta’s Fintech Group.

With Shah’s expertise, DeSo is poised to accelerate its mission to re-imagine the creator economy and expand Web3’s reach from purely financial apps to creator-focused social apps.

“Empowering and supporting creators is a mission I am deeply passionate about,” says Shah. Shah adds that DeSo has built “the first blockchain platform that allows social content to be stored directly on-chain, giving creators more ownership, the ability to engage with fans across all platforms, and the ability to establish direct financial relations with the fans”.

“I’m thrilled to join this amazing team and partner with Nader to grow the business as the industry evolves into the next phase of the Internet of Creators, powered by web3,” he continued.

Shah will complement the deep technical expertise of DeSo founder Nader Al-Naji with his extensive business experience as a technology executive and strategic leader.

Lead an emerging category

Shah joins as the emerging “decentralized social” category shows signs of early growth, with DeSo recently growing 120% month-over-month (following 160% growth the previous month).

“This growth is driven by DeSo’s ecosystem of hundreds of third-party apps, which are now beginning to be picked up,” Al-Naji says. For example, Diamond and Desofy earned creators over $20 million in their early days through new monetization primitives such as social tips, social NFTs, and social tokens.

Several promising apps have recently launched on the DeSo platform, including Pearl, an Instagram web3, NFTz, a decentralized NFT marketplace, and DAODAO, a Kickstarter-like social fundraising tool. And tools like OpenProsper, a social block explorer, provide data and insights into DeSo’s growing ecosystem of developers, partners, and users.

“We see a flywheel starting to form,” says Al-Naji. “Now that we have a seed of users and content, developers are building apps like never before, which is driving usage and content even further in a virtuous cycle.”

About DeSo

DeSo is a new layer 1 blockchain designed from the ground up to decentralize social media and scale storage-intensive applications to billions of users. DeSo’s mission is to decentralize social media the same way Bitcoin and Ethereum decentralized finance.

You can learn more about DeSo and claim your username at deso.com.

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