Social Media Companies Stepping up Measures to Address Users Privacy Concerns

PALM BEACH, Florida, March 26, 2019 /PRNewswire/ -- Almost every day a report surfaces that customer data was either hacked by a third party or parties unknown, or used by the social media platform itself in ways that users feel compromised. A recent article on CNBC's website addressed consumers growing concerns over the privacy of their data. Its headline was an eye opener: "Four in 10 people have deleted a social media account in the past year due to privacy worries, study says." The article continued: "There is a serious lack of trust in social media such as Facebook and Twitter and consumers expect brands that advertise on such platforms to urgently find solutions, according to research published by public relations consultancy Edelman. Edelman surveyed 9,000 people in Brazil, Canada, China, France, Germany, India, the United Arab Emirates, U.K. and U.S. for the study that was published as part of the Cannes Lions International Festival of Creativity in France. Privacy concerns are contributing to people's distrust of social platforms, said the study by public relations consultancy Edelman, with 70 percent of respondents expecting businesses and advertisers to put pressure on social media sites." Active tech and social media companies in the markets this week include: Findit, Inc. FDIT, Facebook, Inc. FB, Twitter, Inc. TWTR, Snap Inc. SNAP, Microsoft Corporation MSFT.

"We learned that there is a serious lack of confidence in social media in all regions of the world. This is a cry from the heart; people are scared. They are outraged about the violation of their privacy, and uncertain about the truth because of the plague of fake news," said the consultancy's president and CEO Richard Edelman in a statement emailed to CNBC. "Forty percent of those surveyed had deleted at least one social media account in the past year because of privacy concerns and 62 percent wanted more regulation of such platforms."

Findit, Inc. FDIT BREAKING NEWS: Findit, owns and operates the website Findit.com, an open source social networking platform technology site which enables users to easily transmit the same posting to social media outlet/applications at the same time, giving members a broader reach, reducing time and making the content easily searchable, today announced it will be launching its revised App in April, that will allow members to create status updates and share them to their other social accounts.

Findit's website provides every member and visitor the option to increase their online presence with each and every status update done in Findit by sharing them with your friends on Facebook (FB), your followers on Twitter (TWTR) and more through Findit Right Now, the status update feature in Findit. Members on Findit, as well as visitors, can easily increase their reach by simply sharing their status updates to Facebook, Twitter, Google My Business (GOOG), LinkedIn (MSFT), and other social networking sites. By utilizing the share features offered from each post in Findit, it empowers all members of Findit to gain a wider reach resulting in additional visibility and more exposure from every piece of content they post in Findit. The revised App will allow posts to be shared to Facebook and Twitter either when it launches or soon after. Other social sites will be added on an ongoing basis that allow Findit to post to them from the App and the website.

Anyone visiting Findit, even non-members, can see and share status updates to their own social networking accounts. Posts can be done through the Findit website or on your mobile devices with the Findit App.

The current App is being updated and looks to be live in April of 2019. You can download the current App here and when the revised version is available, members are highly encouraged to update to the latest version of the App at that time. Read this and more news for FDIT at: https://www.financialnewsmedia.com/news-fdit/   

Other recent developments in the social media industry include:

Twitter, Inc. TWTR - The Drone Racing League (DRL), the world's only professional drone racing circuit, recently announced a new streaming partnership with Twitter and broadcast agreement with NBC and NBC Sports (NBCSN) to air the 2019 DRL Allianz World Championship Season. Premiering on Sunday, August 11, 2019 at 2pm ET on NBC and Twitter, DRL will extend its global reach on premier sports networks and increase access to fans of the world's fast-growing sport. Twitter's Market Cap as of 3-25-2019 is $24.876B.

Facebook, Inc. FB recently Global communications company Viasat Inc., (VSAT) and Facebook Inc. (FB) announced a collaboration to accelerate the deployment of affordable, high-speed, high-quality internet to communities that lack reliable internet or have no connectivity at all. Viasat and Facebook are working together to make the internet accessible to more people in rural areas around the world. The collaboration will help accelerate the deployment of Viasat's market-leading satellite-enabled Community Wi-Fi hotspot service, which is an innovative, proven approach to bringing high-speed, affordable Wi-Fi directly to consumer's devices, where internet service was previously unavailable or ineffective. Facebook's Market Cap as of 3-25-2019 is $467.926B.

Microsoft Corporation MSFT recently Microsoft Corp. and Facebook Inc. announced the formation of the Co-Packaged Optics (CPO) Collaboration. The goal of CPO is the adoption of common design elements that will provide guidance for suppliers in the design and manufacturing of co-packaged optics. CPO's intention over time is to enable an open and diverse ecosystem.

The collaboration intends to provide open specifications for design elements, including the electrical signaling interface, optical standard, optical module management interface and reliability requirements. When complete, the open specifications will enable the industry to develop a set of solutions involving switch and ASIC manufacturers, optics suppliers, CMs and others that will create the final package which can then be attached to the switch PCB. The collaboration has targeted the 51T switch generation as the tipping point for industry adoption of co-packaged optics. Microsoft's Market Cap as of 3-25-2019 is $898.109B.

Snap Inc. SNAP closed down slightly on Monday at $10.72 trading over 12.3 Million shares by the market close. SNAP recently announced the appointment of Lara Sweet, Snap's current Chief Accounting Officer, as interim Chief Financial Officer and principal financial officer. Ms. Sweet's appointment follows the previously announced departure of Chief Financial Officer Tim Stone, which was planned for February 5, 2019. Ms. Sweet will report to CEO Evan Spiegel. Snap's Market Cap as of 3-25-2019 is $14.145B.

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