Companies pull ads from Facebook after Cambridge Analytica controversy

Several companies have suspended their advertisements on Facebook after it was revealed that the data firm Cambridge Analytica improperly used the Facebook data of tens of millions of people.

Facebook is trying to respond to the crisis by assuring advertisers that it’s working to audit all apps that use its platform and that their user’s personal data is safe, The Wall Street Journal reported.

This has not stopped a number of marketers from moving to sever ties with Facebook as the social media company deals with the privacy issues.

Among those pulling ads are Mozilla, which owns the web browser Firefox, and Pep Boys' auto-parts store. Germany's second largest bank, Commerzbank, and wireless speaker maker Sonos have also suspended ads.

Even though some advertisers are only leaving Facebook temporarily, Facebook’s stock has dropped more than 13 percentage points this week.

Many advertisers privately say that are fine sticking with Facebook but they are monitoring the situation closely, the Journal reported.

According to Facebook, the social media platform is taking several steps to improve safety, including a new feature that shows which apps have access to user’s data and also gives users the option to deny the apps permission to the data.

Facebook’s current turmoil began earlier this month when it was reported that Cambridge Analytica had harvested the private Facebook data of 50 million users.

The firm obtained the data from a Cambridge University professor who had collected it through his app that used a Facebook login.

Politicians on both sides of the aisle are calling on Facebook and Cambridge Analytica to speak with Congress about the situation and privacy concerns.

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