Sunday, October 18, 2009

Your Facebook Data is For Sale (sort of)

Facebook has struggled to make money through advertising. As a way to reverse their fortunes, Facebook plans to start selling users’ personal information to market researchers. That means Facebook may use information in your profile without identifying you as an individual to third parties.

The Telegraph is reporting that social networking giant Facebook has new plans for generating revenue; offering its 150 million user database as a market research tool to corporations, “Facebook is planning to exploit the vast amount of personal information it holds on its 150m members by creating one of the world's largest market research databases”

That’s one of the criticism concerned Facebook's right, "We may share your information with third parties, including responsible companies with which we have a relationship." This was addressed by Facebook spokesman Chris Hughes who said, "Simply put, we have never provided our users' information to third party companies, nor do we intend to."

And Why not , think about it they are controlling 150 million user database and Its legal now as Facebook have changed the terms of service: Facebook's New Terms Of Service: "We Can Do Anything We Want With Your Content. Forever." http://consumerist.com/5150175/facebooks-new-terms-of-service-we-can-do-anything-we-want-with-your-content-forever

What does this mean for Facebook users, and online social marketing adherents in general? It means that more than ever, you must be careful what information you post to your online profiles. Photos, data, other media files, your associations – all’s fair in the advertising game. If you’re comfortable with that, post away. If, however, you are more cautious when it comes to how your personal information is used, think about things first.

http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/4413483/Networking-site-cashes-in-on-friends.html

http://www.new.facebook.com/policy.php?ref=pf

http://en.wikipedia.org/wiki/Facebook

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