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Social Media Facebook will soon tell you how it makes money

Facebook will soon tell you how it makes money

Facebook will be providing more detail about what happens when people delete content which they had shared earlier

San Francisco: Facebook has announced to introduce new terms of service, providing it’s over 2 billion users more details on how it makes money, removes harmful content and takes care of users’ intellectual property rights.

The updates, effective from 31 July, are the result of Facebook’s work with the European Consumer Protection Cooperation Network and inputs from ongoing conversations with regulators, policymakers and consumer protection experts around the world, the company said in a statement on Thursday.

“We include more details on how we make money, including a new introduction explaining that we don’t charge you money to use our products because businesses and organisations pay us to show you ads,” noted Anna Benckert, Vice President and Associate General Counsel at Facebook.

The company said it would clarify when people share their own content — like photos and videos — and they continue to own the intellectual property rights in that content.

“You grant us permission to do things like display that content, and that permission ends when the content is deleted from Facebook. This is how many online services work and has always been the case on Facebook,” Benckert added.

Facebook is also providing more detail about what happens when people delete content they have shared.

For example, when you delete something you’ve posted, it’s no longer visible but it can take up to 90 days to be removed from our systems.

“We don’t sell your personal data,” it added.

Earlier, The company had launched an app that pays users to share information with the social media giant about which apps they’re using.

It had rolled out two similar apps that had tracked what activities people had done on their phones. But both were shut down after drawing criticism for infringing on privacy and violating Apple’s App Store guidelines.

The company had said the latest app, called Study, was different than the previous two and had been built from scratch.

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