While Facebook Inc (NASDAQ:FB) is snooping on its users, Yahoo! Inc. (NASDAQ:YHOO) is facing the threat from U.S. Government for not letting the Government to snoop on customers data. Earlier in the year, Facebook Inc (NASDAQ:FB) faced widespread criticism for subjecting some of its users to a social experiment without their consent. Customers’ data is big business nowadays and companies can go to any length to find it, store it and preserve it. Though some companies have gave-in to Government’s demand of accessing user data, others like Yahoo! Inc. (NASDAQ:YHOO) are fighting an uphill battle against it. Lauren Simonetti reported on Fox Business recently the surveillance being done by Facebook Inc (NASDAQ:FB) on its users and Yahoo! Inc. (NASDAQ:YHOO)’s fight against the Government.
“Warning for users, Facebook’s Messenger App, it collected an unprecedented amount of private information on you, from almost everything you do on the app, from where you tap it to how you hold the device, you have been using it on. A security expert says the spyware in this app is greater than he has seen in some enterprise surveillance software. Facebook says, it uses all this information to make messenger more efficient […],”Simonetti said.
Simonetti also reported that Yahoo! Inc. (NASDAQ:YHOO) has said that the U.S. Government has threatened it with $250,000 a day fine, if the company doesn’t hands over information on its users online communication activities. Simonetti revealed that the threat to Yahoo! Inc. (NASDAQ:YHOO) had come from U.S. National Security Agency (NSA) in 2008, which the company challenged in court, but lost the case and will now have to release thousands of one secret papers.
As of June 30, 2014, D.E. Shaw’s firm D.E. Shaw owns over 18 million shares in Facebook Inc (NASDAQ:FB) and Philippe Laffont’s Coatue Management owns over 5.8 million shares in Facebook Inc (NASDAQ:FB).