Facebook ad products director to join online payment firm Square

SAN FRANCISCO, June 27 Thu Jun 27, 2013 12:55pm EDT

SAN FRANCISCO, June 27 (Reuters) - Facebook Inc's director of advertising products has been hired by online payment company Square to oversee its point-of-sale product for retailers.

Gokul Rajaram will join Square as product engineering lead and begin working at the San Francisco-based company next week, Square said on Thursday.

Rajaram, who started at Facebook in 2010, when it acquired his start-up company, has overseen a transformation of Facebook's advertising products.

Facebook, the world's largest social network, is increasingly focused on offering mobile ads that appear in user newsfeeds as more people use its service on smartphones.

Square, one of Silicon Valley's most closely watched private companies, has made a number of high-profile hires in recent months, trying to live up to a lofty $3.25 billion valuation. The company recently released a slew of new hardware and software, including a card reader stand and an e-commerce website.

Square said that Rajaram will lead software development for Square Register, a point-of-sale system that allows retailers to use an Apple iPad computer tablet as a cash register. Rajaram will also work on other products, Square said.

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