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Facebook Offered Lyft And Others Special Authorization To Consumer Data

Since the revelations of Cambridge Analytica were revealed earlier this year, there has been quite a bit of inspection on what firms Facebook has offered consumer data to. And now, papers issued by the UK’s Digital, Culture, Media and Sport Committee, which is inspecting Facebook, display how the firm offered particular firms special access to consumer info. Among those getting preferred access were Lyft, Airbnb, Bumble, and Netflix, while the papers show that Facebook also pointedly refused data access to some rivals, such as Vine.

“Facebook have evidently entered into whitelisting deals with particular firms, which indicated that after the platform modifies in 2014/15 they maintained complete authorization to friends info,” claimed Damian Collins (Committee Chair) to the media in an interview. “It is not obvious that there was any consumer permission for this, nor how Facebook made a decision as to which firms must be whitelisted.” While there is certainly more to be learned about the deals that Facebook made with these firms.

Speaking of Lyft, Uber Technologies Inc. and Lyft Inc. are solidifying strategies for IPO (initial public offerings) in 2019, when a huge bunch of investors will make a decision on what the ride-hailing money-losing businesses are actually worth.

Top banks at Wall Street, competing for a coveted underwriting position on Uber’s IPO, recommend that the San Francisco firm can make one of the most precious offerings in the history. In their pitches to Uber, Goldman Sachs Group Inc. and Morgan Stanley claimed that the business can be capitalized at almost $120 Billion in an IPO, sources well known with the issue claimed to the media in an interview.

In the meantime, Lyft has chosen Credit Suisse Group AG, JPMorgan Chase & Co., and Jefferies Financial Group Inc., to lead the IPO in the H1 of 2019, as per the sources well aware with the subject.