Today, the controversial Cambridge Analytica is closed. Yesterday, on Wednesday, 2ndMay 2018, the firm announced its filing for bankruptcy and ceased its activity after having been accused of a data scandal regarding 87 million Facebook users.
Due to the extensive media coverage concerning the topic, almost all of the company’s clients decided to stop cooperating with Cambridge Analytica and its shares have suffered enormously from the allegations. Furthermore, the legal fees in the controversy have become very high and continuing to operate the business has become unprofitable.
Among other things, Cambridge Analytica has been accused of having illegally used the data of Facebook users during the United States election campaign in 2016, in order to influence potential voters for Donald Trump in their behavior. The company constantly insisted on the fact that the accusations would be unfounded and that their activities would be legal and widely accepted in the field of political and commercial online advertising.
Cambridge Analytica effectively abandoned its activities yesterday in the evening. Some experts are afraid that the company’s employees will continue to work with the same methods in a new company, under a different name.
For further information:
Website Frankfurter Allgemeine:
Website The Guardian:
Website Süddeutsche Zeitung:
Website La Repubblica:
Website Le Monde :