London — Cambridge Analytica, the UK marketing analytics firm at the heart of the Facebook data scandal, announced Wednesday it was “immediately ceasing all operations” and filing for insolvency in Britain and the United States. “It has been determined that it is no longer viable to continue operating the business,” the company, accused of misusing tens of millions of Facebook users’ data, said in a statement. Cambridge Analytica, hired by Donald Trump’s presidential campaign, said it had been “vilified” in recent months over “numerous unfounded accusations”, which had decimated its business. It has vehemently denied exploiting Facebook users’ data for the election campaign of US President Donald Trump following revelations it gathered up profile information via a personality prediction app. Facebook has admitted that up to 87-million users may have had their data hijacked by the firm. Cambridge Analytica claims it deleted data about Facebook users obtained in breach of the social n...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.