Facebook Inc said on Wednesday that the personal information of up to 87 million users, mostly in the United States, may have been improperly shared with political consultancy Cambridge Analytica, up from a previous news media estimate of more than 50 million. Chief Executive Mark Zuckerberg said in a conference call with reporters that Facebook had not seen “any meaningful impact” on usage or ad sales since the scandal, although he added, “it’s not good” if people are unhappy with the company. Shares rose more than 3 percent after the bell. Zuckerberg told reporters that he accepted blame for the data leak, which has angered users, advertisers and lawmakers, while also saying he was still the right person to head the company he founded. “When you’re building something like Facebook that is unprecedented in the world, there are going to be things that you mess up,” Zuckerberg said, adding that the important thing was to learn from … [Read more...] about Facebook says data leak hits 87 million users, widening privacy scandal
Data leak
Facebook says data leak hits 87 million users
SAN FRANCISCO - Facebook Inc said on Wednesday that the personal information of up to 87 million users, mostly in the United States, may have been improperly shared with political consultancy Cambridge Analytica, up from a previous news media estimate of more than 50 million. Chief Executive Mark Zuckerberg said in a conference call with reporters that Facebook had not seen "any meaningful impact" on usage or ad sales since the scandal, although he added, "it's not good" if people are unhappy with the company. Shares rose more than 3 per cent after the bell. Zuckerberg told reporters that he accepted blame for the data leak, which has angered users, advertisers and lawmakers, while also saying he was still the right person to head the company he founded. "When you're building something like Facebook that is unprecedented in the world, there are going to be things that you mess up," Zuckerberg said, adding that the important thing was to learn from mistakes. He said he was not aware of … [Read more...] about Facebook says data leak hits 87 million users
Facebook now says up to 87 million users may have had their data leaked to Cambridge Analytica — way more than the previous estimate
caption Facebook CEO Mark Zuckerberg source Stephen Lam/Reuters The number of Facebook users whose data was illegitimately leaked to data research firm Cambridge Analytica was potentially up to 87 million, the company said on Wednesday. That’s much bigger than the company’s original estimate; previously, it said up to 50 million users might have been affected by the data leak. … [Read more...] about Facebook now says up to 87 million users may have had their data leaked to Cambridge Analytica — way more than the previous estimate
Facebook tweaks privacy tools to ease discontent over data leak
SAN FRANCISCO (REUTERS) - Facebook Inc has adjusted privacy settings to give users more control over their information in a few taps, it said on Wednesday (March 28), after an outcry over a whistleblower's allegations that members' data was used to sway the 2016 US election. It put all the settings on one page and made it easier to change and more straightforward to stop apps using data. Until now changing settings had been complex, spread over at least 20 screens, which had frustrated users. The world's largest social network said in a blog post it had been working on the updates for some time but sped things up to appease users' anger over how the company uses their data and as lawmakers around the globe called for strong regulation. "Last week showed how much more work we need to do to enforce our policies and help people understand how Facebook works and the choices they have over their data," Facebook wrote in the blog post on Wednesday. Facebook's shares were up 1.2 per cent at … [Read more...] about Facebook tweaks privacy tools to ease discontent over data leak
Facebook shares plummet as pressure mounts over data leak
By Sarah Frier Bloomberg Mon., March 19, 2018 Facebook Inc. shares posted their steepest drop since 2015 as U.S. and European officials demanded answers to reports that a political advertising firm retained information on millions of the social network’s users without their consent. Politicians on both sides of the Atlantic are calling on chief executive officer Mark Zuckerberg to appear before lawmakers to explain how U.K.-based Cambridge Analytica, the data-analysis firm that helped Donald Trump win the U.S. presidency, was able to harvest the personal information. Facebook has already testified about how its platform was used by Russian propagandists ahead of the 2016 election, but the company never put Zuckerberg himself in the spotlight with government leaders. The pressure may also foreshadow tougher regulation for the social network. Read more: U.S. and British lawmakers demand answers from Facebook CEO Mark Zuckerberg after misuse of data Article … [Read more...] about Facebook shares plummet as pressure mounts over data leak