WhatsApp co-founder: Time to #deletefacebook

Payments industry executives ET spoke to said that in India these entities not only have access to social data of their consumers but will now also get access to financial behaviour of the users, which they say opens up avenues for potential misuse.

Acton, 46, has a net worth of $5.5 billion, aided by the $22 billion sale of WhatsApp to Facebook in February 2014.

Acton posted a tweet on Twitter yesterday saying "It is time" followed by the hashtag #deletefacebook, showing his support for the ongoing protest against Facebook over the company's failure of protecting user data and privacy.

He tweeted: "It is time".

Cambridge Analytica, with links to President Donald Trump's 2016 campaign, has allegedly collected data from personal profiles of many Facebook users.

Facebook bought instant messaging platform WhatsApp in 2014 for $16 billion. While Koum stayed with Mark, Acton reportedly left the company to start his own company called Signal. One comment on a Reddit thread about the #DeleteFacebook movement, reported on by the BBC, joked: "the rally cry to delete from Facebook is now trending as a hashtag on Twitter - another social media site that gathers data on users".

According to Forbes, Acton, 46, made $3 billion from his stake in the company and now has a net worth of $5.5bn.

This dodgy data harvesting may be illegal in a number of countries, and violates Facebook's own data policy.

This information was allegedly used to map out voter behaviour in 2016 for both the Brexit campaign and the USA presidential election. But last month, Acton Invested $50 million into Signal, an independent alternative to WhatsApp.

Facebook shares tumbled another 2.6 percent yesterday after a 6.8 percent plunge Monday on news of the scandal.

Initial reporting, based on the testimony from former Cambridge Analytica staffer Christopher Wylie, 28 emerged on March 17 in The Observer and the New York Times.

To brush up what has been happening in and around Facebook for the past few days, the social media giant has been accused of data breach during the 2016 Presidential election.

Now one has to wonder if Acton's departure from Facebook wasn't exactly controversy-free.

As per reports, Cambridge Analytica sourced the data from the creator of a quiz attempted by 270,000 users.

  • Arturo Norris