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Friday, 11 May 2018

Cambridge Analytica to close after Facebook data scandal

Cambridge Analytica, the British marketing analytics firm , announced Wednesday that it was closing and would file for insolvency in Britain and the United States after failing to recover from the Facebook data scandal .

The decision follows weeks of intense pressure on the company, hired by Donald Trump's presidential campaign, after allegations emerged it may have hijacked up to 87 million Facebook users' data.

"Despite Cambridge Analytica's unwavering confidence that its employees have acted ethically and lawfully . . . the siege of media coverage has driven away virtually all of the company' s customers and suppliers , " it said in a statement .

It first became embroiled in scandal in March when Canadian whistleblower Christopher Wylie, a 28- year- old former analyst for the firm , revealed it had created psychological profiles of tens of millions of Facebook users via a personality prediction app .
The revelations instantly reverberated around the world , wiping billions from the social media giant 's market value and drawing scrutiny from politicians and regulators on both sides of the Atlantic .

GUYS, WHAT DO YOU THINK?
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FACEBOOK COMMENTS

Johnson Ahile

no company would want to associate with them after all these scandals
1

Endy Edeson

Ahile; Quite sad, it tells other businesses or companies to thread with caution .

Olajide Olushola

so they are already out if cash

Azumi Jimoh

So sad.
1

Endy Edeson

@Azumi, no matter how big a business is, "minor error" can bring it down, that's why doing the right thing all the time pays

Azumi Jimoh

Yes Bro. Just feeling for them. That business sha
1LoveReplyDeleteReportMay 3

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