Facebook is sliding after more data-sharing agreements surface

Markets Insider


Facebook is down 1.28% Wednesday after admitting it shared data with large Chinese device makers.

News broke on Monday that Facebook had shared data – possibly improperly – with 60 device makers including Apple, Amazon, and Samsung. Now Facebook is saying that in those 60 companies were leading Chinese phone makersHuawei, OPPO and TCL Corp, and computer maker Lenovo.

Facebook apparently entered in data-sharing partnerships with those companies so they could create Facebook-like experiences on their devices.

CEO Mark Zuckerberg did not disclose these partnerships when he testified before Congress in April.

Facebook is up 4.96% this year.

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