Cambridge Analytica Shuts Down in Light of Facebook Scandal
In light of the rambling controversy around its role in improperly obtaining data from Facebook users through a third party, Cambridge Analytica will end its U.S. and U.K. operations.
In a press release late Wednesday, confirming the decision, the company said that “unfairly negative media coverage” around the Facebook incident of their alleged misuse of over 15 million Facebook users’ data which they allegedly obtained from the social networking giant under false pretense has “driven away virtually all of the Company’s customers and suppliers,” making its business no longer financially viable. The same goes for the SCL Elections, a CA-affiliated company
Earlier, SCL Elections Limited, as well as certain of its and Cambridge Analytica LLC’s U.K. affiliates filed applications to commence insolvency proceedings in the U.K. The Company is immediately ceasing all operations…
Additionally, parallel bankruptcy proceedings will soon be commenced on behalf of Cambridge Analytica LLC and certain of the Company’s U.S. affiliates in the United States Bankruptcy Court for the Southern District of New York.
Given its already fairly shadowy business practices, it remains to be seen if this is really the end for Cambridge Analytica or just a strategic rebrand while it waits for the “siege” of negative media coverage to cool off.
Probably the latter, since the U.K.-based SCL Group, the mothership in the constellation of associated companies, is not going out of business. Nor are its many other ventures, including a new one, Emerdata, which several former CA leaders have recently moved to.