All Updates

All Updates

icon
Filter
Industry news
Meta slapped with EUR 390 million fine over illegal ad practices
Digital Privacy Tools
Jan 4, 2023
This week:
M&A
N-able acquires Adlumin for USD 266 million to strengthen cybersecurity offerings
Next-gen Cybersecurity
Today
M&A
Bitsight acquires Cybersixgill for USD 115 million to enhance threat intelligence capabilities
Cyber Insurance
Today
M&A
Snowflake acquires Datavolo to enhance data integration capabilities for undisclosed sum
Generative AI Infrastructure
Today
M&A
Snowflake acquires Datavolo to enhance data integration capabilities for undisclosed sum
Data Infrastructure & Analytics
Today
Product updates
Microsoft launches Copilot Actions for workplace automation
Foundation Models
Yesterday
M&A
Almanac acquires Gro Intelligence's IP assets for undisclosed sum
Smart Farming
Yesterday
Partnerships
Aduro Clean Technologies partners with Zeton to build hydrochemolytic pilot plant
Waste Recovery & Management Tech
Yesterday
Funding
Oishii raises USD 16 million in Series B funding from Resilience Reserve
Vertical Farming
Yesterday
Management news
GrowUp Farms appoints Mike Hedges as CEO
Vertical Farming
Yesterday
M&A
Rise Up acquires Yunoo and expands LMS monetization capabilities
EdTech: Corporate Learning
Yesterday
Digital Privacy Tools

Digital Privacy Tools

Jan 4, 2023

Meta slapped with EUR 390 million fine over illegal ad practices

Industry news

  • Meta has been fined a total of EUR 390 million (USD 414 million) by Ireland's Data Protection Commission (DPC), for breaching data handling practices under the European General Data Protection Regulation (GDPR).

  • Meta’s social media units Facebook and Instagram have been slapped with EUR 210 million (USD 223 million) and EUR 180 million (USD 191 million) fines respectively for using user data for personalized advertisements on their platforms. The investigation found that Meta’s terms of service had a clause that forced users to legally consent to personalized advertisements to access the services. 

  • Meta “strongly disagrees” with the DPC, stating that it lacked regulatory clarity regarding the legal basis that should be used for certain advertisements. Despite the decision, Meta will not prevent targeted or personalized advertising on its platforms and intends to appeal against these allegations, stating that its approach to data protection respects the GDPR. 

  • Meta has three months to comply with the ruling by providing users with the freedom to consent over targeted ad promotions. In 2021, Meta’s data handling practices helped it to generate USD 118 billion in revenue. However, the decision by the DPC has now put 5%–7% of the company’s advertising revenue at risk.

Contact us

Gain access to all industry hubs, market maps, research tools, and more
Get a demo
arrow
menuarrow

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.