BREAKING: Cambridge Analytica shuts U.S. and U.K. operations after Facebook scandal https://t.co/8WDVUrR1Cu
— Aaron Blake (@AaronBlake) May 2, 2018
TIME FOR A STRATEGIC REBRANDING, BOYZ!
Cambridge Analytica, a political consultancy that worked for the Trump campaign and had come under attack for its use of personal Facebook data in other elections, announced on Wednesday it would cease operations and declare bankruptcy in the United States and United Kingdom.
The firm said it had lost clients because of revelations in March that it had improperly obtained the personal information of millions of Facebook users. “It is no longer viable to continue operating the business,” Cambridge Analytica said in a statement.
Cambridge Analytica defended its use of Facebook, saying it was “vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas.”
The decision by the firm comes as it continues to face potential investigations and sanctions from regulators around the world for charges…
Cambridge Analytica was born of as an American offshoot of London-based SCL Group, whose affiliates had worked in campaigns around the world, including Kenya, Nigeria and India. Initial funding for Cambridge Analytica came from Republican financier Robert Mercer, who invested at least $10 million in the company as it sought to help exclusively GOP candidates across a range of U.S. congressional and state legislative elections beginning in 2014. His daughter Rebekah Mercer was the company’s president for a time. Neither Mercer responded to requests for comment on Wednesday…
Even as it maintained its innocence, Cambridge Analytica acknowledged that the “siege of media coverage has driven away virtually all of the Company’s customers and suppliers.” SCL Elections, its parent, as well as Cambridge Analytica began insolvency proceedings in the UK, and said they would soon start bankruptcy proceedings in the United States.
the scene at Cambridge Analytica pic.twitter.com/e7s99j446n
— zeddy (@Zeddary) May 2, 2018
Cambridge Analytica and SCL group cannot be allowed to delete their data history by closing. The investigations into their work are vital
— Damian Collins (@DamianCollins) May 2, 2018
Remember. SCL & Cambridge Analytica are disinformation specialists. What exactly are they shutting down & why? https://t.co/KKsBYkCCTz
— Carole Cadwalladr (@carolecadwalla) May 2, 2018
— ????????? ?????????? (@OpWolverines) May 2, 2018
Basically they are just doing the very same Erik Prince do when his war crime companies becomes infamous when their unlawful actions and war crimes reaches daylight.
Changing the company's name, but running business as usual.