In spite of the huge Cambridge Analytica data scam and a couple of consumers’ privacy problems due to internal errors, Facebook shares concluded on $203.23 (an all-time record high) last week. Sponsors are now liking the social media more than ever that witnessed its shares dropping previously when it was below a strong investigation over breach of data from the European and US governments, the media claimed.
Sponsors are also pleased at the headlines that Facebook has grabbed its largest sports streaming agreement so far with the Premier League. The media claimed that Facebook has got exclusive rights to display all 380 live matches in Asian regions such as Vietnam, Thailand, Laos, and Cambodia from next year till 2022, in an agreement having a value of almost $264 Million.
Ever since becoming public in 2012, Facebook has witnessed its share rise over 400%. In the newest privacy scam, Facebook confessed that more than 800,000 consumers were impacted by an error on its Messenger and platform that unblocked some individuals that the consumers had earlier blocked. The error was active from May 29, 2018, to June 5, 2018. Facebook has already been struggling with privacy problems such as the Cambridge Analytica data scam comprising 87 Million consumers and another error that modified 14 Million consumers’ privacy setting defaults to public.
On a related note, the increasing worldwide backlash on worries of privacy and the employment of its services such as WhatsApp to distribute false news has pushed social media behemoth Facebook to take various actions employing technology as well as reaching out to academic community and policy makers to dispel these worries. Facebook is spending in tech and appointing thousands of individuals to weed out false profiles often related with distribution of fake news. WhatsApp has started testing tools to alert consumers if a text is forwarded or originally composed.