Facebook is one of the leading social networking services in today’s world. Try asking a person not to use Facebook for a day, it is very much certain that he would disagree with you no matter what. Such is the addiction. Almost every snippet of information we get is from Facebook. An integrated platform that does it’s maximum best to satisfy the people in their day to day lives.
Though it has got many competitors, it is doing it’s best to fight against all odds to be on the top. The chairman and CEO, Mark Zuckerberg and other key members are giving absolutely everything to take the networking site to another level with 25,105 employees. It has been 14 years since the website came to view and the meteoric rise saw more than 2.2 billion active users as of 2018.
With “Messenger, Instagram, Whatsapp, Oculus VR, tbh, Watch” being Facebook’s substantial subsidiaries, the essence and growth that Facebook attained now is simply phenomenal. Advertising, promoting the product is made much easier as far as this social media platform is concerned. Facebook is now ranked No.3 according to Alexa Rankings.
Whatsapp was bought by Facebook in 2014 for a whopping $19 billion. Ever since the messaging service was sold to Facebook, Acton became an incredibly wealthy man. Currently, Acton has been busy working on building more secure and private messaging platforms for users.
Recently, things didn’t really go down too well with Facebook community as many raised voices to delete facebook. Even the former Whatsapp co-founder Brian Acton was one among the strong voices to come up with a strong statement. He took to his official Twitter account to say, “It is time. #deletefacebook”.
It is time. #deletefacebook
— Brian Acton (@brianacton) March 20, 2018
What is the story? Why some people are against Facebook?
In what is a huge loss for Facebook, there has been a decline of over $60 billion in market value over the past 2 days, following revelations that the personal data of millions of users was acquired by a data analytics firm.
Politicians in Britain and the United States are constantly pushing for Facebook’s Chief Executive Mark Zuckerberg to appear before them in order to answer questions about the scandal involving the data breach of millions of its users.
Cambridge Analytica which is a political consultancy based in London, is been accused of gaining unauthorised access to the details of over 50 million Facebook users. The firm worked for Donald Trump’s presidential campaign in the US and the Brexit campaign in the UK.
News of the scandal saw a decline in Facebook shares. It is learnt that the company’s stock dropped 7 percent drop on Monday, which then followed it up with 2.5 percent drop on Tuesday. Over $60 billion revenue dropped from company over the last two days.