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 shares fell 31 percent to $19.45., which fed data to firms like Acxiom. The company’s
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.