Acxiom, which used Facebook data for marketing purposes, is one of the losers from the social network’s decision to end its «Partner Categories» program.
The fallout from Facebook’s Cambridge Analytica scandal is hitting one data marketing firm hard.
Acxiom, which uses Facebook data for better targeted marketing, lost a third of its value on Thursday after Facebook decided to end its «Partner Categories» program, which fed data to firms like Acxiom. The company’s shares fell 31 percent to $19.45 .
Facebook’s shutdown of the program is part of a broader effort to clean up the way it handles its users’ data. The social network has been in the spotlight since the revelations emerged about how Cambridge Analytica used Facebook information to create targeted political ads.
But in the case of Acxiom, there’s collateral damage.
Acxiom said it expects total revenue and profitability to fall by as much as $25 million.
