Cambridge Analytica, the notorious firm has shut down following allegations about its exploitation of Facebook data. The British firm had close down due to its campaign strategies, pitched to its clients.
Julian Wheatland, chairman of Cambridge Analytica’s parent company SCL Group announced the news in a conference call today with the tech firm’s employees. Moreover, the founder of the company, Nigel Oakes also declared that SCL Group is closing down too.
In this regard, Cambridge Analytica itself issued a press release (PR) announcing the news that the company and its parent company SCL would stop operating, and would start liquidation proceedings. Furthermore, According to the PR rebranding Cambridge Analytica was “useless.”
It was too costly for the company to accept the loss of reputation and clients. All the workers were directed to return their keycards straight away.
We have seen that after the data breach in Facebook privacy scandal, UK-based Company Cambridge Analytica was struggling for quite some time.
However, further reports and inquiries about the issue expanded the firm’s privacy sins. And the Cambridge Analytica found guilty over gaining the data illegally via an app written by a university researcher.
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Despite the fact that only 270,000 Facebook users installed the app, the app was capable to collect data on millions of their friends due to the Facebook data sharing policy at that time.
Even though, in the past couple of days Facebook is setting up safeguards to protect user data by putting an end to targeted ads using emails attained without permission and no more allows third-party applications to access user data, but people still are doubtful about the over privacy policies of Facebook.
It’s tough to argue with SCL Group’s choice to believe the firm beyond recovering as the combined proof of suspended CA CEO Alexander Nix’s blackmail tactics and the ultimate hearing before Congress along with the involvement in Trump campaign.
According to the press release, company maintained its innocence and “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.”
Although the company was internally inspecting the allegations itself and they argued that the allegations weren’t actually supported, the “siege of media coverage has driven away virtually all of the Company’s customers and suppliers,” imposed a shutdown.