Facebook Inc apology does’nt satisfied Lawmakers, investors, advertisers

Vastavam web: Facebook Inc came under further pressure from lawmakers, investors, advertisers and users on Thursday, the day after Chief Executive Mark Zuckerberg admitted the social media network made mistakes in letting 50 million users’ data get into the hands of political consultancy Cambridge Analytica.U.S. lawmakers demanded Zuckerberg personally testify in Washington to explain his company’s actions.

Meanwhile, advertisers Mozilla and Commerzbank suspended ads on the service and the hashtag #DeleteFacebook remained popular online, although it was hard to tell how many users are abandoning Facebook.The company has lost more than $50 billion in market value since allegations this week that Cambridge Analytica improperly accessed data to build profiles on American voters and influence the 2016 presidential election.

Five days after the scandal broke, Zuckerberg apologised on Wednesday for mistakes his company made and promised to restrict developers’ access to user information as part of a plan to protect privacy.Zuckerberg’s media rounds did little to satisfy Washington lawmakers in either political party who have demanded this week that the 33-year-old billionaire testify before Congress.

The Republican chairman and top Democrat of the U.S. House Energy and Commerce Committee said they will in coming days formally ask Zuckerberg to testify.My message to Mark Zuckerberg is you are right person. There’s no question you are the right person,” Senator Richard Blumenthal, a Connecticut Democrat, told reporters after Facebook executives briefed Senate staff on Thursday.Facebook said it had no comment beyond what Zuckerberg had already said.