Connect with us

Tech News

Facebook gave data on user’s friends to certain companies

Published

on

Facebook gave data on user’s friends to certain companies

(Reuters) – Facebook Inc (FB.O) let some companies, including Netflix (NFLX.O) and Airbnb, access users’ lists of friends after it cut off that data for most other apps around 2015, according to documents released on Wednesday by a British lawmaker investigating fake news and social media.

The 223 pages of internal communication from 2012 to 2015 between high-level employees, including founder and Chief Executive Mark Zuckerberg, provide new evidence of previously aired contentions that Facebook has picked favorites and engaged in anti-competitive behavior.

The documents show that Facebook tracked growth of competitors and denied them access to user data available to others.

In 2014, the company identified about 100 apps as being either “Mark’s friends” or “Sheryl’s friends” and also tracked how many apps were spending money on Facebook ads, according to the documents, referring to Zuckerberg and Chief Operating Officer Sheryl Sandberg.

The insight into the thinking of Facebook executives over that period could invite new regulatory scrutiny into its business practices.

Facebook said it stood by its deliberations and decisions, but noted that it would relax one “out-of-date” policy that restricted competitors’ use of its data.

One document said such competitor apps had previously needed Zuckerberg’s approval before using tools Facebook makes available to app developers.

Zuckerberg wrote in a post on Wednesday that the company could have prevented the Cambridge Analytica data breach scandal had it cracked down on app developers a year earlier in 2014.

Misuse of Facebook user data by Cambridge Analytica, a political consulting firm, along with another data breach this year and revelations about Facebook’s lobbying tactics have heightened government scrutiny globally on the company’s privacy and content moderation practices.

Stifel analysts on Wednesday lowered their rating on Facebook shares to “hold,” saying that “political and regulatory blowback seems like it may lead to restrictions on how Facebook operates, over time.”

Damian Collins, a Conservative British parliamentarian who leads a committee on media and culture, made the internal documents public after demanding them last month under threat of sanction from Six4Three.

The defunct app developer obtained them as part of its ongoing lawsuit in California state court alleging that Facebook violated promises to app developers when it ended their access to likes, photos and other data of users’ friends in 2015.

Facebook, which has described the Six4Three case as baseless, said the released communications were “selectively leaked” and it defended its practices.

netaji is a well known tech writer in the field of artificial intelligence, he wrote several articles on the advanced AI methods on international news magazines

Continue Reading
Advertisement
Comments

Business

Finantix acquired by Motive Partners

Published

on

Motive Partners
  • Finantix is familiar for it’s software applications for financial industries.
  • Motive Partners is an investment firm focused on technology-enabled companies that power the financial services industry.
  • in the era of digital, acquisitions are playing major role hence it proves the capability of firm.

Motive partners have confirmed the acquisition of Finantix in a recent press release. They said this acquisition will strengthen their technical capabilities along with streamlined solutions for clients. The acquisition dated on 11th of dec 2018 therefore the official merging details to be released soon.

Acquisition is just a common word for the people of silicon valley as it is often heard there. Considering the tech giants like google and Apple as an inspiration most of the firms are focusing on acquisitions. It all started when the google is swallowing small fishes of the industry as a part of growing business. As a result now a days all the firms are moving towards acquisition rather than putting more technical stuff in to the company.

 

“Everyone thought the acquisition strategy was extremely risky because no one had ever done it successfully. In other words, it was innovative.”

of-course it is true that every one thought acquisition is risky. But a well planned acquisition pushes the firm towards success in a streamlined way. Acquiring the organisations without reason will launch you in to the trouble as well as ruins both the companies. apart from the other factors like product building to product marketing, acquisition is also a major part of strategy.

 

About Finantix

Finantix enable it’s clients to digitalise their multi channel and omni-device strategy injecting innovative components into their digital transformation programs. And also help them make available ready to use solutions to serve, advise and sell their services to mass, affluent, private, high net worth and business customers.

While they offer a wide range of applications to fill any gaps in clients solution set, they never advocate a rip-and-replace strategy and always look to leverage the IT and Digital investments client have already made.

Finantix offering is based on a comprehensive library of modules and components designed for the financial services industry. As a result that promotes innovation, re-usability across business channels and devices, and helps Financial Services leverage existing legacy architectures. Along with the data facilitating the integration and reuse into new digital services initiatives.

About Motive Partners

motive partners is a financial technology specialist firm. they offer sector specialist investment platform along with expertise, connectivity and capabilities. Therefore it will create long-term value in financial technology business.

Financial technology is a massive market in a complex industry undergoing significant transformation. Motive partners mainly works on four different motives.

  • Customer empowerment
  • Technological innovations
  • Regulatory directives
  • Economic under-performance

the firm works on the formula of investing, innovating and operating. By using this kind of approach they have achieved a lot. This kind of business motivation lead the firm towards this acquisition. The traditional approach to private equity investing is no longer enough. Motive partner believes that specialization is central to achieving the best results.

Real-world operating and innovating expertise is at the heart of Motive Partners’ DNA. they invest where their expertise, connectivity and capabilities can empower management teams to achieve substantial value creation.

Acquisition

motive partners are following a streamline structure from the beginning itself. Their focus towards the financial technology industry lead them to the top of the list. Motive partners felt it is necessary to acquire an organisation like Finantix.  above all Finantix is also on the financial industries sector due to this the acquisition came in to picture.  Finally motive partners acquired Finantix on 11th of dec 2018 to an undisclosed amount.

 

Continue Reading

Business

Google acquires Sigmoid Labs of Bengaluru

Published

on

  • Tech gaint Google is unstoppable with it’s acquisitions.
  • Bengaluru based sigmoid labs is also got sold for an undisclosed amount to google.
  • Sigmoid labs is the parent company of well known train tracking app “Where is my train”.

as we all know the google is so tech hungry while doing acquisitions. Bengaluru based startup is also not a big target for google to acquire.  The official press release from sigmoid labs stated that

“We’re excited to share that Sigmoid Labs, the team behind the ‘Where is my train’ app, is joining Google. We can think of no better place to help us achieve our mission, and we’re excited to join Google to help bring technology and information into more people’s hands,”

where is my train app uses cell tower network instead of internet to track the train. this new technology hence proved without data also we can track GPS signals. according to the google stats the app has reached 10 M downloads.  while asked for their reaction towards this huge success of the app, the team replied

“The confidence that our users have placed in us is what makes us so excited to think even bigger,”

 

About Sigmoid labs

being a start-up it’s hard to get noticed by the tech giants of the silicon valley. But the sigmoid labs has made it through all the difficulties.  Basically the sigmoid labs is well known by it’s train tracking app. This train tracking app became famous due to it’s unique ability to track without internet.

The technical team has put tremendous efforts to make it unique in it’s own way. The app uses mobile network towers to get the information to the module. The app will collect the data through the receiving antennas of the mobile. This different way of approach towards GPS tracking made this start-up stand among the crowd.

Continue Reading

Business

Red River acquires Texas based Ambonare

Published

on

  • Red River a technology transformation company from Austin
  • Ambonare specialized in web & mobile app development as well as software product engineering
  • The acquisition happened on 7th of December 2018

About Red River

The company brings together the ideal combination of talent, partners and products to disrupt the status quo in technology and drive success for business and government in ways previously unattainable. Red River serves organizations well beyond traditional technology integration.  Having more than 20 years of experience and mission-critical expertise in security, networking, analytics, collaboration, mobility and cloud solutions.

Red River  officially announced about the Ambonare acquisition on a press release dated 7th dec 2018. The company has made revolutionary changes in the process of optimizing business. The company provides tools for the customers which will help the business to streamline besides that it will increase the technology investments.

 

About Ambonare

Ambonare is a digital transformation company along with software product engineering skills. The company mainly deals with four different technologies above all web & mobile app development is a major one. Remaining are DevOps & Docker consulting as well as cloud computing. Ambonare is excited to lead the transformation of the software engineering and IT industries for over a decade. From websites to applications, cloud to cotainers, Ambonare has supported companies both big and small.

Over the past ten years, Ambonare have worked with a variety of customers in both private sector and public sector. And also successfully implemented and managed their mission critical systems. Ambonare has expanded it’s technical presence in the direction of digital transformation. With the help of Red River the transformation is going to be streamlined. As a result this will help both the firms to co-ordinate and work together

 

CEO Speaks

“This acquisition allows Red River to further its investment in Austin and the State of Texas while expanding our consulting services to better enable our customers to imagine the possibilities of technology.” said Jeff Sessions, Red River CEO. “By adding to our application development and software engineering expertise, we enhance our position as a partner of choice for our customers as they make their digital transformation journeys.”

“We are excited to join Red River. A company that shares both our strong customer commitment & desire to push the boundaries of technology,” said Ambonare President Samuel Chen. “Red River provides us the support, management and infrastructure needed to do our best work, win larger projects, enhance our offerings and expand opportunities for our employees.”

 

Acquisition

The Ambonare transaction is continuing with Red River’s long-term growth strategy. which included the acquisitions of Sacramento-based Natoma and Boston-based Accunet. Over the past several years, the firm has steadily increased annual revenues.  AS well as expanded its geographic footprint, capabilities and customer base. As a result earned multiple OEM awards and grew its contract portfolio. the portfolio at the time of acquisition is $125 billion.

 

 

 

 

Continue Reading
Advertisement

Whats Going.?

Trending