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.
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.
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)
When Behnoush Babzani turned 35, she threw a party. She also used her birthday to ask friends to donate to a cause she cares about deeply: helping people who need bone marrow transplants.
She herself received a bone marrow transplant from her brother.
“It’s not that my body was making cancerous cells, it was that my body was making no cells,” she said. “So think about the boy in the bubble. I had to be isolated. I didn’t have an immune system to protect me.”
Using a new feature on Facebook, Babzani in a few clicks posted a photo of herself in a hospital gown when she was receiving treatment and she asked her friends to help raise $350.
New way to raise money for causes
Facebook has always been a convenient way to send birthday wishes to friends. Now users have started taking advantage of a new feature introduced a year ago by the popular social networking site to turn birthday wishes into donations to help a favorite cause.
It’s turned into a huge success for charities. In its first year, Facebook’s birthday fundraiser feature raised more than $300 million for charities around the world. With a new revenue source, some charities are rethinking some of their standard fundraising activities.
The success of the Facebook birthday feature comes as social media users have begun to question how internet services connecting friends and family around the world have also become a mechanism for some to spread hate or influence foreign elections.
Networks used to spread hate
Along with Twitter CEO Jack Dorsey, Sheryl Sandberg, Facebook’s chief operating officer, testified in the U.S. Senate recently about steps the company has taken to identify and remove posts that violate the company’s terms of service.
“We were too slow to spot this, and too slow to act. That is on us,” Sandberg told the Senate committee.
Yet, the birthday fundraiser feature shows the power of using social media for good, says Facebook spokeswoman, Roya Winner.
“It gives people who are celebrating a birthday, a chance to turn that day into something that’s bigger than themselves,” she said.
Some of the biggest recipients have been St. Jude, the children’s hospital, the Alzheimer’s Association, the American Cancer Society, No Kid Hungry, which focuses on child hunger in the U.S., and the American Society for the Prevention of Cruelty to Animals.
In the days that followed, Behnoush surpassed her goal, raising more than $1,700. Her social network became an army pulling together to do good.
Rescuing sea lions
Two weeks before his 65th birthday, Stan Jensen, retired from working in sales at a Silicon Valley firm, received a message from Facebook asking if he wanted to mark the occasion of his birthday by dedicating the day to a cause. He did.
He turned to 1,400 Facebook friends to help raise money for the Marine Mammal Center in Northern California, where he volunteers once a week helping injured sea lions.
He raised $2,300.
“It surpassed my wildest dreams,” he said, and he let his friends know they made a difference.
“You’ve bought a ton of fish,” he told them. “You are feeding all the animals we have on site for several days.”