Group items matching

in title, tags, annotations or url

As traders focused on bank earnings and the outlook for global growth, NBC News wrested the market's attention back toward Facebook by publishing a report on what appears to be the largest leak of internal documents since the data privacy scandal that has dogged the company for more than a year erupted with the first reports about Cambridge Analytica's 'improper' leveraging of Facebook user data to influence elections.

Some 4,000 pages of documents shared with the network news organization by a journalist affiliated with the ICIJ, the same organization that helped bring us the Panama Papers leaks, revealed that Facebook had employed sensitive user data as a bargaining chip to attract major advertisers and close other deals between 2011 and 2015, when the company was struggling to cement its business model following its botched 2012 IPO.

Facebook essentially offered companies like Amazon unfettered access to its data in exchange for agreeing to advertise on Facebook's platform, according to the documents, only a small fraction of which have been previously reported on. All of this was happening at a time when the company publicly professed to bee safeguarding user data.