Tried Hard To Move Forward But Couldn’t Make A Way Out
According to wall street journal reports, Cambridge Analytica was shot down today due to the Facebook data leakage scandal and following legal investigations.
The chairman of the SCL Group – parent company, Julian Wheatland, announced the news today during a conference call with firm’s employees’ attendance.
Not only the tech firm itself but also the SCL Group got affected by the storm too.
Shortly following the news broke, SCL Elections and its US counterpart C.A. initialized the insolvency proceedings in the UK and bankruptcy process in the US, and a press release was made by Cambridge Analytica itself, announcing to stop operating both firms. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]”The siege of media coverage has driven away virtually all of the Company’s customers and suppliers,” the statement read. “As a result, it has been determined that it is no longer viable to continue operating the business, which left Cambridge Analytica with no realistic alternative to placing the Company into administration.”[/perfectpullquote]
For a long time so far, the company was giving out S.O.S., trying to find a way out of this scandal, yet, independent reports and investigations literally exploded the firm’s past privacy infringements.
Julian Wheatland, the CEO, declared to the employees that the company had examined all the possible ways, yet, couldn’t make an out, so that was the best option to move forward.
What I wonder on that point is, if that disaster happened to data buyer C.A., what will happen to the seller of that data – Facebook?