While social media is an ever growing industry, recent revelations about data selling have shaken things up for one of the biggest platforms. Facebook CEO Mark Zuckerberg has issued public apologies to Facebook users in response to the Cambridge Analytica scandal. At the heart of the scandal is the discovery that Facebook sold inappropriately obtained user data. This led to a Federal Trade Commission probe as well as a European Union investigation and several different class-action lawsuits.
The Cambridge Analytica scandal occurred in 2014, but it could have a major impact on Facebook’s 2018 profits. As part of the FTC investigation, it was discovered that Facebook also collected call log data from Android users. Multiple advertisers have announced plans to stop advertising on Facebook and shares fell 14 percent the week the scandal broke. Facebook has also had to lower its price target significantly. While some estimate that this will only be a temporary setback, the Cambridge Analytica scandal has made users more aware of data protection than ever.
User Privacy and Social Media
As Facebook struggles to recover its brand, an alternative platform Findit.com (FDIT) is poised to give users concerned about their privacy a better way to network. The Findit.com social networking app may be relatively new, but it holds great promise in an industry that is looking for change. The primary benefit of the app is that it allows users to share updates and connect with friends and family knowing Findit will not be selling their data. In the wake of the Facebook scandal, social media users are actively searching for ways to stay updated on the world without handing over their privacy. The social aspect of social media requires a significant level of trust between the consumer and the platform, which opens up a market opportunity for platforms focused on ethical relationships with users. From private messages to hitting the like button on advertisements and pages, users may unconsciously provide a significant amount of information to the platforms they use. Until recently, many of those users likely hadn’t considered the implications of data sharing on and off the platform.
Findit.com app is available to everyone, but the creators are also interested in helping businesses engage easier with customers. The Findit.com content indexing system makes it easier for businesses to reach new customer and leads, while members maintain control over how much they want to share Findit does not sell their data. Cross-promotion opportunities offer even more options for advertisers. Because the app helps users access content, even from producers who are not on Findit.com, it offers a user-focused experience. Advertisers and businesses will also find the company’s transparency with regard to its practices refreshing. There was immense pressure on advertisers to pull away from Facebook after the Cambridge Analytica scandal, so 2018 is likely the beginning of a push for advertisers to vet platforms more carefully.
Principled Social Media
While Findit.com has a policy against pushing political agendas on users, the company is guided by the principles of transparency and respect toward its members. Users have control over the browsing experience, making it easier for users to be found and discover the businesses and content they are actually looking for. In the context of other social media sites that heavily orchestrate the user experience, Findit.com is a breath of fresh air, allowing users to access the content they want to see. Users fleeing Facebook due to privacy concerns will also be relieved to participate in a platform that does not sell their data.
Behind the Company
From marketer Peter Tosto to developer and company president Raymond Firth, Findit.com has a dedicated team with significant qualifications. It is anticipated that excitement over the new application will snowball into an impressive activity rate for the platform. With committed founders who are highly knowledgeable about the social media industry, Findit.com is poised to succeed.
About the Author
Stuart Smith is the CEO and Founder of SmallCapVoice.com. SmallCapVoice.com. is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its clients’ financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks they are interested in. Tools like stock charts, stock alerts, and Company Information Sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets. To learn more about SmallCapVoice.com and their services, please visit https://smallcapvoice.com/blog/the-small-cap-daily-small-cap-newsletter/