article thumbnail

Facebook Nominates Alford To Board As Two Other Execs Step Down

PYMNTS

Bloomberg reported that before joining PayPal in March as senior vice president of core markets, Alford served as chief financial officer and head of operations for the Chan Zuckerberg Initiative, the nonprofit foundation of the social media giant’s CEO Mark Zuckerberg and his wife, Priscilla Chan.

article thumbnail

Five Key Takeaways From Poshmark’s IPO Filing 

PYMNTS

Social media-focused clothing reseller Poshmark became the latest platform company to file for an initial public offering (IPO) this week, hoping to catch an IPO wave that saw big first-day pops recently for Airbnb and DoorDash. We created Poshmark in 2011 to make buying and selling simple, social and fun.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Unprecedented Facebook Data-Sharing Plan Takes Off After Privacy Delays 

PYMNTS

The Electronic Privacy Information Center said in a 2018 letter that the sharing violated Europe’s data-privacy law and Facebook’s obligations under its 2011 Federal Trade Commission (FTC) consent decree. . The urgency of this research cannot be overstated,” King and Persily said on Social Science One’s website last April. “We

Data 160
article thumbnail

Advocacy Groups Call On FTC To Break Up Facebook

PYMNTS

Facebook is facing breakup calls from a handful of advocacy groups that want the Federal Trade Commission to explore breaking up the social media giant. In 2011 the FTC said Facebook deceived customers by sharing data it said it was kept private. The consent decree was inked in 2012.

Groups 115
article thumbnail

U.S. Regulators Eye ‘Record’ Facebook Fine For Privacy Violations

PYMNTS

Regulators in the United States have reportedly met to discuss levying fines against social media giant Facebook , a punishment that could be sizable in scope and which comes in the wake of privacy violations. Other data privacy issues have been reported beyond that linkup. million paid by Google in 2012.

article thumbnail

FTC Expected To Reveal Details Of $5B Facebook Fine

PYMNTS

The settlement includes a fine of about $5 billion, and it would end a long investigation into the social media giant. The company already has an internal privacy team, and in 2011, it allowed for its privacy practices to be assessed by PricewaterhouseCoopers. The announcement could come as soon as Wednesday (July 24).

article thumbnail

FTC: Facebook Lied To Users About Authentication, Facial Recognition

PYMNTS

As part of a 2011 FTC consent decree, Facebook allowed continuous privacy checkups by PricewaterhouseCoopers LLP. Analysts pointed out that it’s clear Facebook has struggled with privacy issues since 2011, and so they expect the social media giant to agree with tightened oversight.