Facebook Inc (NASDAQ:FB)’S “sponsored stories” are now “social context”
The changed version
What users will see is a revamped version of advertising that uses the profile information. This will now be called “social context”. The company has given a brief description of these new ads in its blog post. Now, it will not be possible for marketers to but any sponsored ads separately. Instead of that, social context which will have various stories about any social actions that have been taken by friends and will now be eligible to be displayed in the ads that are shown to your “friends” on the social networking platform.
The legal battles
The “Sponsored Stories” concept had to be scrapped post the lawsuit that was filed against the company in 2013. The allegation was that this practice that was being followed by Facebook Inc (NASDAQ:FB) was a breach of users’ privacy. This lawsuit eventually culminated in a settlement of $20M. The company was using the likenesses of user’s in the ads without taking their permission or even compensating them. Despite the fact that it lost the class-action that was filed against it, the company continued with the “Sponsored Stories” for many months. Now, with this new wording of “social context”, Facebook Inc (NASDAQ:FB) is hoping that it will be protected from any class-actions in the future.
Latest posts by Viraj Shah (see all)
- California Boy Raises $800,000 to Fight Friend’s Rare Disease - October 23, 2014
- Kendall Jenner At Fashion Week - October 20, 2014
- Rally Starts In USD/CAD - September 18, 2014
- Forex News: USD/JPY Continues To Rally - September 18, 2014
- USDCAD Hits Session Low In Yesterday’s Trading - September 17, 2014
Davos: Google's Eric Schmidt, Tech Creates Jobs $GOOGL, $GOOG, $FB, ... read more
Davos: Currency Wars Rage, US Losing Friday at Davos US ... read more
Gold, Nat Gas Finish Up, Silver, Copper And Crude Oil ... read more