Facebook continues to grow and to impress Wall Street despite controversy. It has come under fire for its privacy practices, and for its role in the spreading of misinformation and the distribution of harmful content. Nevertheless, in 2018, it generated $55.8 billion in revenue, up 37% from 2017, while the number of users on its core app rose by 9%. It appears that 2019 will be a rollercoaster: The company has said it expects to pay a fine of up to $5 billion related to a Federal Trade Commission probe into how it manages user data. CEO Mark Zuckerberg recently announced a new privacy-based strategy that could significantly change how customers use the product, with a focus on Facebook groups, encryption, and ephemeral content.
Looking for leads, investment insights, or competitive intelligence?
News about Facebook
This is your Data Sheet newsletter for Monday, May 20, 2019.
Code fast and distract from things.
Must-read business news, delivered every morning.
Facebook's new maps are intended to help health groups and researchers better handle health emergencies.
Government ought to force Big Tech to erase everyone's data.