Cambridge Analytica is Shutting Down

After the so-discussed scandal over mishandling of Facebook data,Cambridge Analytica is shutting down.The company said in a press release that the affiliated United Kingdom-based company SCL Elections has filed for insolvency, and that bankruptcy proceedings will begin soon for Cambridge Analytica as well. SCL Group,the data analytics company’s United Kingdom-based parent organization will also be shuttered.

Cambridge Analytica gained fame by working on data analytics for the Trump presidential campaign.It has undergone the controversy that it obtained data on millions of Facebook users through a seemingly innocuous personality test app.Cambridge Analytica’s CEO, Alexander Nix, resigned after further reporting showed him discussing the possibility of entrapping politicians for clients.

Cambridge Analytica’s former CEO, Alexander Nix.

The overwhelmingly bad press generated by the news cycle appears to have been too much for the company.