Cambridge Analytica shuts down in light of ‘unfairly negative’ press coverage – TechCrunch
Cambridge Analytica is finished. In gentle of the sprawling controversy round its function in improperly acquiring information from Fb customers by way of a 3rd occasion, the corporate will finish its U.S. and U.Ok. operations.
In a press launch confirming the choice, the corporate stated that “unfairly adverse media protection” across the Fb incident has “pushed away just about all the Firm’s clients and suppliers,” making its enterprise now not financially viable. The identical goes for the SCL Elections, a CA-affiliated firm:
Earlier at this time, SCL Elections Ltd., in addition to sure of its and Cambridge Analytica LLC’s U.Ok. associates (collectively, the “Firm” or “Cambridge Analytica”) filed purposes to start insolvency proceedings within the U.Ok. The Firm is straight away ceasing all operations…
Moreover, parallel chapter proceedings will quickly be commenced on behalf of Cambridge Analytica LLC and sure of the Firm’s U.S. associates in america Chapter Court docket for the Southern District of New York.
On Wednesday, simply earlier than the corporate went public with its information, Gizmodo reported that staff of Cambridge Analytica’s U.S. places of work realized that their jobs had been being terminated after they had been ordered at hand over their firm keycards.
Given its already pretty shadowy enterprise practices, it stays to be seen if that is actually the tip for Cambridge Analytica or only a strategic rebrand whereas it waits for the “siege” of adverse media protection to chill off.
In all probability the latter, because the U.Ok.-based SCL Group, the mothership within the constellation of related firms, will not be going out of enterprise. Nor are its many different ventures, together with a brand new one, Emerdata, which a number of former CA leaders have lately moved to.
Supply hyperlink – https://techcrunch.com/2018/05/02/cambridge-analytica-shuts-down/