We want our money back. In the aftermath of the controversy surrounding Cambridge Analytica, Facebook is being sued by investors over a share price slump that the plaintiffs claim is due to Facebook failing to responsibly safeguard user data. CEO Mark Zuckerberg is reportedly planning to address mounting criticism against his company during an all hands meeting on Friday, and possibly even before then.
Nixed. Cambridge Analytica has suspended its CEO, Alexander Nix, after undercover Channel 4 News reporters in the U.K. captured him on film making off-color remarks. The video shows Nix bragging about swaying the U.S. presidential election and suggesting that prospective clients entrap and extort political rivals.
Are you sure you want to delete… WhatsApp co-founder Brian Acton piled onto the Facebook hate train, tweeting, “It is time. #deletefacebook.” Acton sold his messaging app to the social network operator for billions of dollars in 2014. He recently poured $50 million into a non-profit organization, the Signal Foundation, that aims to develop privacy enhancing technologies.
Guess who’s back? Back again? Former Uber CEO Travis Kalanick is back in the captain’s chair, this time at a real estate firm. On Tuesday, Kalanick announced his purchase of a controlling stake in a distressed company, City Storage Systems, for $150 million as well as his installation as CEO. “There are over $10 trillion in these real estate assets that will need to be repurposed for the digital era,” the boss wrote in a tweet.
Around the world in 880,000 days. Orbitz disclosed Tuesday that it suffered a security breach that impacts 880,000 payment cards. Attackers may have gotten their hands on customer information, including names, street and email addresses, and birthdays, from the travel booking website operator owned by Expedia. The company said records from purchases made between Jan. 1, 2016 and Dec. 22, 2017 were at risk.
The tax man cometh. The European Commission released a proposal for a plan that would tax tech companies based on where their digital users are based, rather than merely where the companies are based. The plan proposes to take a 3% cut of turnover from the European operations of tech giants, such as Google, Facebook, and Amazon. Estimated proceeds: about $6 billion.
Kind of a big deal. Salesforce has agreed to pay $6.5 billion in cash and stock for the business software company Mulesoft. The deal is poised to be the biggest acquisition in Salesforce’s history, and it comes a year after Mulesoft went public. Mulesoft’s products, which link corporate apps and data into unified IT systems, seem to pair nicely with Salesforce’s cloud offerings.
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