Facebook investors have lost over half their money if they bought the stock on opening day.
Facebook has always had a major problem: how convert members’ information into money. It now has a way to do this. It will sell access to members’ information to marketers.
The social networking site is allowing companies to trawl through its 900m users looking for email addresses and phone numbers so it can better target adverts.
The changes mean that if you hand over any details when you buy something – as many consumers do – that company can now track you down on Facebook. . . .
They have already sparked calls for an official investigation by campaigners who claim that the public have not been properly notified.
The new measures, which have been in effect for weeks, will affect consumers who have handed over personal data when they buy something, which is the majority of people given the rise of Internet shopping
Retailers will then be allowed to compare their own databases with the information on Facebook.Not private: The changes mean that if you hand over any details when you buy something – as many consumers do – that company can now track you down on Facebook. . . .
Facebook claimed that there are safeguards attached to the new measures.
Phone numbers and email addresses will be replaced by hash symbols so nobody actually knows who the person is, even if they can track their behaviour. . . .
Facebook is under pressure to improve on the £1.1bn it makes each year from advertising after its disastrous stock market floatation which saw its shares fall by more than half their value. . . .
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