By Christopher Carbone, Fox News
Facebook is facing the possibility of an advertiser exodus in the U.K. over the data scandal that has enveloped the company, prompted widespread demands for new regulations and knocked almost $50 billion from its market cap.
ISBA, a group representing about 3,000 advertisers including major brands like Unilever and Proctor & Gamble, is demanding answers from Facebook in the wake of the Cambridge Analytica data-mining scandal. The companies the group works with could abandon the social network if their concerns aren’t addressed.
The trade group confirmed to Fox News that it will meet with representatives from Facebook on Friday.
“We want to understand the scope of the inquiry Mark Zuckerberg announced yesterday. We want reassurances for our members that it will get to the bottom of the issues and any implications for the public and for advertisers,” Phil Smith, ISBA director general, told Fox News in a statement.
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