Market capitalization of Facebook fell by $ 100 billion. That's a lot.

By: Eugene Sherban | 28.03.2018, 14:00
Market capitalization of Facebook fell by $ 100 billion. That's a lot.

According to fresh stock quotes, Facebook's market capitalization fell by almost   100   bn   dollars. A   this means that after the scandal with   leakage of data for only   week the company lost a fifth of its value.

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If to   16   March (note: up to   scandal with Cambridge Analytica and   mass appeals to remove Facebook) the market value of the company was $ 537.9   billion, then   to   the close of trading on 27   March it fell to   $ 442.4   billion This is almost $ 100   billion losses or 21.6% of   of the total value of the company. This is very   very much   even the largest companies in the world.

AT   general, Mark Zuckerberg is not   you will envy   - in   early in the year he   wanted to " fix " Facebook, returning him the old lamp, and   now he   became one of the   most hated people of the planet and   at   within 2 weeks is obliged to come forward with   explanations before the US Congress.

More about   scandal with Cambridge Analytica

AT   2013, Professor of Cambridge University Alexander Kogan created another test application in   spirit of " find out, you   pretzel or gingerbread. " AND   for its passage it was necessary to open access to   data of your page. However, the application acted more cunningly and   accidentally asked at the same time to open access to   account data, which are in   friends   the user. AT   The test was passed 270 thousand people, but Kogan collected personal data 50   million users.

AT   early 2015, Kogan sold the data to Cambridge Analytica, which later used them   for manipulating   elections in   200 countries by   the whole world. As shown by the investigation of Channel 4, in   Facebook is not   could not   know about   accounting, but apparently decided to just hush up the story. Do not hush up   happened   - Now the action #deletefacebook is gaining momentum, investors are preparing to sue   social network because of the opaque leadership policy, and   Mark Zuckerberg lost a lot of money because of the company's share price decline.

More information about the scandal can be found here .

Source: Verdict