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Facebook To Be Fined A Fortune Over Cambridge Analytica Scandal!

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Facebook Fined Over Cambridge Analytica Scandal,Startup Stories,Startup News India,Facebook Cambridge Analytica,Cambridge Analytica India,Cambridge Analytica Latest News,New Data Protection Act,Facebook CEO Mark Zuckerberg,Facebook Chief Privacy Officer,Facebook Fined for Data Breach

In 2017, the UK Information Commissioner’s Office (ICO) launched an inquiry into voters’ data being obtained and used by political campaigns. This was following the Observer’s early investigative reports, into Cambridge Analytica, the political research firm. Facebook and Cambridge Analytica have been under scrutiny, for harvesting the data of millions of Facebook users around the globe, with the total number of people affected now at 87 million. The social media giant Facebook will be fined $ 664,000 for failing to protect users’ information by the UK’s privacy watchdog. While a fine of $ 664,000 is the biggest possible punishment available to the ICO, it is the same amount of money Facebook makes in just a few minutes. At the time of the infraction, the law on processing data was set out under the Data Protection Act of 1998, which imposed a maximum penalty of £ 500,00. However, Under the new Data Protection Act 2018, companies can be fined up to 4 % of global turnover, a substantially more serious penalty. In Facebook’s case, a fine could be as high as $ 1.9 bn, based on its revenue.

Elizabeth Denham, the Information Commissioner said she would penalize the social network platform as her office investigates how the data of millions of users was improperly accessed. Earlier, the CEO of Facebook Mark Zuckerberg was questioned by the U.S., and the EU lawmakers over how Cambridge Analytica accessed the personal data of such a huge number of Facebook users. During the EU referendum, Facebook was found to be at fault for failing to be clear about how the information had been harvested by others. According to reports, Denham said Facebook has failed to provide the kinds of protections they’re required to do under data protection laws.

However, the penalty could change as the agency would discuss the matter further with Facebook. Generally, the ICO does not reveal its initial investigations but this time, it shared the details of the amount of the penalty because of the hyped public interest toward the scandal. Also, the agency would next give an update in October, this year.

Erin Egan, Facebook’s Chief Privacy Officer, acknowledged in a statement Facebook should have done more to investigate claims about Cambridge Analytica and take action in 2015. Apart from this, the UK privacy watchdogs said the fallout from Facebook’s Cambridge Analytica scandal is only the beginning. The UK’s early efforts could inform ongoing investigations elsewhere in Europe as well as the United States, where a probe by the Federal Trade Commission could result in a penalty well into the hundreds of billions of dollars. The FBI and the Securities and Exchange Commission are also looking into Facebook’s ties to Cambridge Analytica.

 

 

 

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Dunzo Gets Breather as NCLT Rejects Insolvency Petition from Invoice Discounters

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Dunzo

The National Company Law Tribunal (NCLT) Bengaluru bench has dismissed an insolvency plea filed against quick commerce startup Dunzo by its invoice discounters, declaring the petition “not maintainable” after several postponements. This decision offers temporary relief to Dunzo, which has been facing multiple insolvency petitions from various creditors, including Velvin Packaging Solutions and Betterplace Safety Solutions, over unpaid dues.

The invoice discounters alleged that Dunzo had paid only 50% of the required amounts, though the exact sum was not disclosed. Despite ongoing settlement talks, no resolution was reached, and the tribunal noted Dunzo’s delays in responding to creditor petitions. Dunzo continues to grapple with severe liquidity issues, delayed payments, and significant losses—reporting a ₹1,801.8 crore loss in FY23 and owing approximately ₹11.4 crore to major vendors like Google India and Facebook India.

While this NCLT ruling provides Dunzo some breathing room, the company still faces ongoing financial and operational challenges as it works to resolve its outstanding liabilities.

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How a Golden Retriever Became the Heart and Soul of a Hyderabad Startup’s Workplace

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Golden Retriever in workplace

Hyderabad-based startup Harvesting Robotics has won hearts online by appointing a golden retriever named Denver as its Chief Happiness Officer (CHO). Denver, introduced by co-founder Rahul Arepaka in a viral LinkedIn post, has quickly become the star of the office, spreading joy and boosting morale among employees. The company is now officially pet-friendly, a move Arepaka calls their “best decision.”

Denver’s new role has sparked widespread attention, with thousands liking and commenting on the announcement. Many see Denver’s presence as more than just a cute story—it highlights a growing trend of pet-friendly workplaces that prioritize employee well-being and happiness. As companies increasingly focus on holistic wellness, Denver’s appointment shows that sometimes, a wagging tail is the best way to brighten the workday.

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Info Edge Shareholders Approve ₹1,000 Crore Investment in New Venture Fund

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Info Edge

Info Edge (India) Ltd shareholders have overwhelmingly approved an investment of up to ₹1,000 crore in the company’s third venture capital fund, Info Edge Ventures Fund III. The proposal received near-unanimous backing, with 99.9995% of valid votes in favor out of 1,274 participants.

Smartweb Internet Services Ltd, a wholly owned Info Edge subsidiary, will act as sponsor and investment manager for the new fund. This move strengthens Info Edge’s commitment to backing early-stage startups and expanding its footprint in India’s venture capital landscape.

Info Edge has a strong track record as an early investor in leading Indian startups like Zomato and PB Fintech, with combined holdings in these firms valued at ₹31,500 crore ($3.7 billion) as of March 31, 2025.

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