EU election leaves Facebook in hot water



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Group says it has violated Facebook's political ads restriction

The EU parliamentary elections concluded on May 26 and left Facebook (FB) in another battle for its reputation and wallet. A Dutch digital rights group said it was able to run political ads in another European country, although Facebook said before the vote that it would not allow people or groups to display political ads outside the countries from which they were buying the ads.

EU election leaves Facebook in hot water

According to the group, which was called Bits of Freedom, the fact that it was able to display political ads in the Netherlands showed that Facebook did not keep its word when it came to restricting political announcements to secure the EU parliamentary elections. interference. The findings of Bits of Freedom, as reported by Bloomberg, have renewed calls to closely regulate technology companies to ensure that their products are not used to undermine democratic processes. Rigid regulations can raise costs and slow growth in target companies.

Calls for the technical regulation to grow

Facebook seems to be getting frustrated with the issues it is facing in the business of selling political ads. The company explored the advertising business policy because some consider that the company is more of a headache than an opportunity, according to a company report. Wall Street Journal.

Facebook's advertising revenue grew 26 percent from a year earlier to $ 14.9 billion in the first quarter. Twitter (TWTR) and Yandex (YNDX) posted 18% growth in advertising revenue over the previous year in the first quarter. Advertising revenue increased 15.4% in Google (GOOGL) and 3.0% in Baidu (BIDU) in the quarter.

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