Business

Mark Zuckerberg and Sheryl Sandberg are quietly freaking out and pulling late nights behind the scenes

1 month ago   |   By

Facebook
CEO Mark Zuckerberg and COO Sheryl Sandberg have not commented on the Cambridge Analytica scandal.
The data leakage has now cost Facebook tens of billions of dollars in market value.
Zuckerberg and Sandberg are aware of the problem and have been working late into the night on their response, according to Wired.
"Mark, Sheryl and their teams are working around the clock to get all the facts and take the appropriate action moving forward," a Facebook representative tells Business Insider.
Facebook has been rocked since Friday's announcement that the social media giant was banning...
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A Facebook investor decided to 'quarantine' the company amid the Cambridge Analytica data scandal

A Facebook investor decided to 'quarantine' the company amid the Cambridge Analytica data scandal

1 month ago   |   By

REUTERS/Stephen Lam/File Photo
Facebook investor Nordea will not invest further in the company, which is struggling with a data scandal involving Cambridge Analytica.
Facebook shares have declined 10% since Friday to $168.15.
LONDON - Nordea, one of the biggest banks in the Nordics, will not invest any more money in Facebook, amid a public backlash against the company for its involvement with political consultancy Cambridge Analytica.
Sasja Beslik, head of group sustainable finance at Nordea, said in a tweet on Wednesday that the firm would "quarantine" its investments in Facebook "for the...
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The Cambridge Analytica leaker said he never meant to tank Facebook's share price - and denied being 'on a crusade' against it

The Cambridge Analytica leaker said he never meant to tank Facebook's share price - and denied being 'on a crusade' against it

1 month ago   |   By

Reuters
Facebook stock is down around $50 billion since details emerged of 50 million accounts having been harvested for data by Cambridge Analytica.
The source of the story was former Cambridge Analytica employee Chris Wylie.
At a talk in London on Tuesday he said he didn't see the financial backlash coming.
Wylie said Facebook had brought most of the losses upon itself by handling the story poorly.
He said the network deserves scrutiny, but said he isn't "on a crusade" against it.
Chris Wylie, the ex-employee who blew the whistle on the Cambridge Analytica data scandal, said that he did...
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The academic who helped Cambridge Analytica harvest Facebook data said he has been made into a 'scapegoat'

The academic who helped Cambridge Analytica harvest Facebook data said he has been made into a 'scapegoat'

1 month ago   |   By

CNN
Academic Aleksandr Kogan helped Cambridge Analytica harvest Facebook data - but complained that he's been made a "scapegoat."
Kogan told the BBC that he was assured that what he was doing was legal.
He also said that Cambridge Analytica exaggerated how accurate the harvested Facebook data was.
LONDON - A Cambridge University academic who harvested data on millions of Facebook users said he has been made a scapegoat by the social network and a UK-based political consultancy that is accused of trying to sway public opinion for Donald Trump.
Facebook has been rocked this week by a...
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