Facebook has been drowning in Complication for a long time now, and now the consequences have started to show up. Once the company who took the communication world by storm and has changed the way the world communicated. I wouldn’t say it brought 2 friends living the whole world apart close, coz telephone did that a long time ago, alright. But still, it brought a revolution in the world of Social media.
Now the company stands at 14th spot in the list of Interbrand’s annual ranking of top 100 brands. The company earlier stood at the 10th most valuable brand and lost its place on the virtue of its privacy scandals.
“My wife asked me why I spoke so softly in the house. I said I was afraid Mark Zuckerburg was listening! She laughed. I laughed. Alexa laughed. Siri laughed.”
– James Franco
Although he was joking, or was he? Anyways The scandals it got itself into aren’t jokes. The social media giant was holding 8th spot in the list 2 years ago what it was slated as a “rapidly appreciating” brand. Now the list was topped by Apple, followed by Google, Amazon, Microsoft, and the Coca Cola came up at fifth and Samsung at sixth.
The seventh spot holder was the car manufacturing giant of Japanese origin Toyota then cam the luxurious car manufacturer Mercedes at eight and most favorite burger maker McDonald’s came in ninth place, and Disney held the tenth spot, Oh toodles!
According to a survey conducted by Ponemon Institute, an independent research firm, in 2018 revealed that the confidence of the user in Facebook went down by a whopping 66 percent after the data scandal, which involved 87 million users.
Ponemon said, “We found that people care deeply about their privacy, and when there is a mega data breach, as in the case of Facebook, people will express their concern. And some people will actually vote with their feet and leave.”