Cambridge Analytica Is Filing For Bankruptcy But Could Re-emerge Under A Different Name
Published on May 3, 2018
- Cambridge Analytica is filing for bankruptcy.
- The company released a statement about the recent events.
- There is a possibility of re-emerging as a different company.
After the Facebook incident involving Cambridge Analytica, this consulting firm has been under rapid fire from the government and the public. Today, the company is issuing a press release saying that Cambridge Analytica is filing for bankruptcy.
In the statement, the company shows no remorse for anything that happened. The statement talks about the unfounded accusations and that even though they wanted to correct the record, the company was vilified for the things that are not only legal but also a standard component in the world of online advertising. As 9to5Google says, the statement then blames all the bad media coverage which caused their customers and suppliers to move away from Cambridge Analytica. According to them, this resulted in the fact that the company is no longer able to continue operating the business.
Image Courtesy Of: Axios
On the other hand, this whole operation that surrounds Cambridge Analytica could re-emerge from the ground, covered as an entirely different company. The possibility of this becomes clearer if we look what has happened in the past several months. As NY Times notes, in the recent months the Mercer family and the executives at SCL Group and Cambridge Analytica have created a brand new firm named Emerdata. Emerdata is based in Britain, according to the records. One of the new directors of this company is a Hong Kong financier Johnson Ko Chun Shun, who is also a business partner of Eric Prince. Mr. Prince became famous for starting a private security company called Blackwater which changed its name to Xe Services after Blackwater ended up being convicted of killing Iraqi civilians. According to the NY Time's sources, Cambridge and SCL officials have been privately open to the possibility of re-branding Cambridge Analytica and the SCL group in the same way Blackwater did.