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5 Companies That Had A Rough Week

For the week ending March 23, CRN looks at IT companies that were unfortunate, unsuccessful or just didn't make good decisions.

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Facebook Under Fire For Sharing User Data With Political Consulting Firm

Social media giant Facebook found itself in the middle of a huge firestorm this week when published reports detailed how Cambridge Analytica, a London-based data analysis firm, harvested data from Facebook users, which was then used to target those users and their friends – about 50 million people altogether – with political advertisements in the 2016 U.S. election.

The fallout from the revelations included a $58 billion loss in the company's market capitalization between last Friday, March 16 (before the issue becamse known) and Thursday of this week. It also spurred a movement called "#DeleteFacebook" to encourage users to delete their Facebook accounts and quit the social media site. And some advertisers, including Commerzbank and Mozilla, have suspended advertising campaigns because of the issue, according to CNBC.

Fueling the firestorm was the failure of CEO Mark Zuckerberg to publicly address the problem for five days, finally issuing a statement on Wednesday in which he apologized for the apparent misuse of Facebook user data and promising to change the way the company shares data with third-party applications.

 
 
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