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Despite Data Scandals And Privacy Issues Facebook Stock At All-Time High

The Times reported that Facebook has won exclusive rights to show all 380 live matches in parts of Asia

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Despite the massive Cambridge Analytica data scandal and a couple of users’ privacy issues owing to internal bugs, Facebook stock closed at an all-time record high of $203.23 on Friday.

Investors are loving the social network more than ever that saw its stocks dipping earlier in 2018 when it was under an intense probe over data breach from the US and European governments, Fortune reported.

Investors are also happy at the news that Facebook has grabbed its biggest sports streaming deal yet with the Premier League, reports IANS.  The Times reported that Facebook has won exclusive rights to show all 380 live matches in parts of Asia — Thailand, Vietnam, Cambodia and Laos — from 2019 until 2022, in a deal worth about $264 million.

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Investors are also happy at the news that Facebook has grabbed its biggest sports streaming deal yet with the Premier League. Pixabay

Since going public in 2012, Facebook has seen its stock rise more than 400 per cent.  In the latest privacy goof-up, Facebook admitted that over 800,000 users were affected by a bug on its platform and Messenger that unblocked some people the users had blocked.   The bug was active between May 29 and June 5 — and while someone who was unblocked could not see content shared with friends, they could have seen things posted to a wider audience, said Facebook.

Also readFacebook Shuts Down Three of its Apps

Facebook has already been grappling with privacy issues like the Cambridge Analytica data scandal involving 87 million users and another bug that changed 14 million users’ privacy setting defaults to public. (IANS)

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Facebook Is Planning To launch It’s Own Satellite ‘ATHENA’

A high altitude platform station (HAPS) system, Aquila's mission, according to Facebook CEO Mark Zuckerberg, was to connect the world and help people who do not have online access all the opportunities of the Internet.

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Facebook is working on launching Athena, its own Internet satellite, early in 2019, the WIRED reported. Pixabay

 As part of its plan to connect billions of people who are still offline, Facebook is working on launching Athena, its own Internet satellite, early in 2019, the WIRED reported.

According to an application Facebook appears to have filed with the US Federal Communications Commission (FCC) under the name PointView Tech LLC, the project is designed to “efficiently provide broadband access to unserved and underserved areas throughout the world,” the report said on Friday.

Facebook, however, is not alone in aiming to increase Internet accessibility through satellites in low Earth orbit. Elon Musk’s SpaceX and Softbank-backed OneWeb are two other prominent names who have similar ambitions.

Facebook also confirmed that Athena is their project, according to the report in the WIRED.

“While we have nothing to share about specific projects at this time, we believe satellite technology will be an important enabler of the next generation of broadband infrastructure, making it possible to bring broadband connectivity to rural regions where Internet connectivity is lacking or non-existent,” a Facebook spokesperson was quoted as saying in a statement.

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The project is designed to “efficiently provide broadband access to unserved and underserved areas throughout the world,” the report said on Friday. Pixabay

While Facebook had long expressed its cherished goal of connecting billions of underserved people around the world, it has not had much success with two earlier projects.

In June, Facebook announced it decided to abandon its plan to develop high-flying solar-powered drones called Aquila that was aimed to deliver Internet to nearly four billion people in remote parts of the world.

A high altitude platform station (HAPS) system, Aquila’s mission, according to Facebook CEO Mark Zuckerberg, was to connect the world and help people who do not have online access all the opportunities of the Internet.

Facebook began Aquila project in 2014. In 2017, the solar-powered drone successfully completed the second full-scale test flight.

The social network also discontinued in 2017 a small helicopter drone project that could temporarily replace cellular services in emergency situations, The Verge reported.

Also Read-Facebook’s Helicopter Drone Project Got Grounded: Report

The idea was to send a helicopter equipped with telecommunications equipment hundreds of metres up in the air to be able to tether to fibre and power lines in places where wireless capacity was compromised due to disaster or other factors. (IANS)