Cambridge Analytica Declares Chapter 7 Bankruptcy
After a whirlwind scandal that rattled Facebook users worldwide, the data analytics firm that once backed President Donald Trump’s 2016 campaign has filed for Chapter 7 bankruptcy in a New York court.
What’s on the Balance Sheet
- Assets: $100,001 – $500,000
- Liabilities: $1,000,000 – $10,000,000
Why the Bankrupt‑tumble
Earlier this month, the company announced that it had “virtually all” customers and suppliers on the hook after revelations that it had illegally harvested data from tens of millions of Facebook users. The fallout was swift and severe: investors fled, partners pulled out, and the once-glorious data empire collapsed into a pile of paperwork.
When It All Started
In 2016, Cambridge Analytica became a household name—allegedly helping shape the political narrative with targeted polls and micro‑ads. Fast forward to today, and its reputation is as shredded as its balance sheet.
Takeaway
In a world where data is treated like gold, a single misstep can turn a corporate titan into a cautionary tale. If you’re still hoping to ride the data‑driven wave, be mindful of where your info is spilling.
