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Facebook Loses its Place Among the World’s 10 Most Valuable Brands

Only 28 per cent of Facebook users believed the company is committed to privacy, down from a high of 79 per cent

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Corporate, America, Climate Change
FILE - In this April 30, 2019, file photo, Facebook stickers are laid out on a table at F8, Facebook's developer conference in San Jose, Calif. The Boston-based renewable energy developer Longroad Energy announced in May that Facebook is building a… VOA

Hit by privacy scandals and year-round investigations, Facebook has lost its place among the world’s 10 most valuable brands in global brand consultancy Interbrand’s annual ranking of best top 100 brands.

Facebook fell to the 14th spot. Two years back, the social networking giant was at the eighth spot in the list, billed as a “rapidly appreciating” brand.

Apple led the top 100 best brands’ list, followed by Google and Amazon. Microsoft was the fourth, Coca Cola fifth and Samsung came sixth on the list.

The seventh spot was grabbed by Toyota, Mercedes was the eighth, McDonald’s ninth and Disney was at the 10th spot.

Pitching for breaking up Facebook, US-based software giant Salesforce CEO Marc Benioff has called the social networking platform “new cigarettes” which are making kids addictive. Benioff said that the company must be held accountable now.

Several US lawmakers like Senators Kamala Harris and Elizabeth Warren have also been pitching to break up Facebook.

Fake, News, WhatsApp, Facebook, India
The Facebook mobile app on an Android smartphone. Wikimedia Commons

Nearly 40 state attorneys general in the US have decided to join probe against Facebook’s anti-competitive business practices.

Facebook this year agreed to pay $5 billion as a settlement to the US Federal Trade Commission (FTC) over privacy violations.

According to a survey by independent research firm Ponemon Institute in 2018, users’ confidence in Facebook plunged by 66 per cent after Cambridge Analytica data scandal involving 87 million users.

Also Read: Apple Users can Now Report Accidents, Traffic on Google Maps

Only 28 per cent of Facebook users believed the company is committed to privacy, down from a high of 79 per cent.

“We found that people care deeply about their privacy and when there is a mega data breach, as in the case of Facebook, people will express their concern. And some people will actually vote with their feet and leave,” Ponemon said in a statement. (IANS)

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Facebook, Sony Pull Out Of Games Developer Conference Due To Coronavirus Concerns

Earlier this month, global telecom industry body GSMA cancelled the 2020 edition of the tech industry's biggest event -- MWC due to health safety concerns around novel coronavirus outbreak

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Facebook
Facebook had already cancelled an event it had planned at the Moscone Centre in San Francisco a week back. Pixabay

 Big technology players such as Facebook and Sony have pulled out of the forthcoming Games Developer Conference (GDC) over concerns of the deadly coronavirus outbreak. This comes after coronavirus derailed the world’s biggest mobile exhibition — the Mobile World Congress (MWC) in Barcelona.

Just one day after announcing it wouldn’t be attending PAX East, Sony confirmed that it also won’t be attending the Game Developers Conference (GDC) this March in San Francisco also due to coronavirus concerns, Android Central reported on Thursday.

It is pertinent to note that Sony had cancelled plans for MWC as well and the novel coronavirus situation in China has caused a lot of distress across the tech industry.

Facebook had already cancelled an event it had planned at the Moscone Centre in San Francisco a week back.

Coronavirus
Big technology players such as Facebook and Sony have pulled out of the forthcoming Games Developer Conference (GDC) over concerns of the deadly coronavirus outbreak. This comes after coronavirus derailed the world’s biggest mobile exhibition — the Mobile World Congress (MWC) in Barcelona. VOA

Facebook, which owns VR company Oculus, also announced it won’t be attending GDC in either capacity. Chris Pruett, the director of content ecosystem at Oculus, said in a statement, “Out of concern for the health and safety of our employees, our dev partners, and the GDC community as a whole, Facebook’s AR/VR and Gaming teams won’t be attending this year’s Game Developers Conference due to the evolving public health risks related to COVID-19”, the report added.

ALSO READ: “Should Online Platforms Be Liable for User Posts?”, Asks U.S Attorney General William Barr

Earlier this month, global telecom industry body GSMA cancelled the 2020 edition of the tech industry’s biggest event — MWC due to health safety concerns around novel coronavirus outbreak. (IANS)