Business

Cambridge Analytica Announces Its Closing

Cambridge Analytica, the data analytics firm that worked with President Donald Trumps campaign and was subsequently mired in controversy, announced Wednesday that it is shutting down.

After Facebook disclosed in March that it was suspending Cambridge Analytica for not abiding by its data management and extraction rules, both companies were chastised for not caring about users privacy. The social media giant originally had an agreement with Cambridge Analytica, but eventually told them to delete information detailing peoples online traits and tendencies. The data company allegedly refused, leading to Facebook terminating its contract that gave them permission to operate on its platform.

The whole debacle sparked a firestorm of public backlash, with many arguing that millions of peoples data were compromised because Facebook doesnt properly vet who it commercially partners with. Facebook CEO Mark Zuckerberg was eventually dragged to Capitol Hill in April to explain what his company does and can do, and what it is doing to ensure people and their digital deeds arent being exploited. (RELATED: Hatch: Of Course Facebook Is Taking Our Data, Nothing In Life Is Free)

“Over the past several months, Cambridge Analytica has been the subject of numerous unfounded accusations,” the data company wrote in a blog post Wednesday. “And, despite the Companys efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas.”

Overall, it seems that Cambridge Analytica cant handle all of the legal fees that have come from multiple investigations and lawsuits.

Follow Eric on Twitter

Send tips to [email protected].

Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact [email protected].

[contf]
[contfnew]

The daily caller

[contfnewc]
[contfnewc]

Related Articles

Business

Pressed by COVID-19 and low oil prices, Nigeria slips into recession

africanews– Nigeria, Africa’s biggest economy, entered recession for the second time in...

Business

EU Reeling From Yellow Vest Protests. What Happens if There Is a Debt Crisis?

There is a lot of talk about which economic bubble will burst...

Business

EU Reeling From Yellow Vest Protests. What Happens if There Is a Debt Crisis?

There is a lot of talk about which economic bubble will burst...

Business

Till Trump do they part: Top tech firms cut ties with Huawei following US trade blacklisting

Last week, US President Donald Trump signed an executive order aimed at...