Hit by privacy scandals and year-round surveys, Facebook has lost its place among The most valuable brands in the world in Interbrand’s annual ranking of best brand consulting in the world rankings for the Best brands.
Facebook fell to 14th place. Two years ago, the social networking giant was in eighth place on the list, presented as a mark “in rapid appreciation.”
Apple ranks at the top of the top 100, followed by Google and Amazon. Microsoft was fourth, Coca Cola fifth, and Samsung ranked sixth. Toyota took seventh place, Mercedes the eighth, McDonald’s the ninth, and Disney the tenth.
Marc Benioff, CEO of Salesforce, a US IT giant, has called the social networking platform “new cigarettes” that make children addicted to addiction. Benioff said the company should be held responsible now.
Nearly 40 US Attorneys General have decided to join Facebook’s investigation of anti-competitive business practices. This year, Facebook has agreed to pay $ 5 billion to the US Federal Trade Commission (FTC) to address privacy breaches.
According to a study conducted by the independent Ponemon Institute of 2020, user confidence in Facebook dropped by 66 percent after the Cambridge Analytica data scandal involving 87 million users. Only 28% of Facebook users thought the company was committed to protecting privacy, while a peak of 79%.