Political consultancy Cambridge Analytica, the firm at the centre of the Facebook data-sharing scandal, is shutting down, it says, the BBC reports.
The firm was accused of improperly using data on behalf of political clients.
According to Facebook, data about up to 87 million of its members was harvested by an app and then passed onto the political consultancy.
“Despite Cambridge Analytica’s unwavering confidence that its employees have acted ethically and lawfully… the siege of media coverage has driven away virtually all of the company’s customers and suppliers,” the firm said.
“As a result, it has been determined that it is no longer viable to continue operating the business,” it added.
The statement added that its parent company SCL Elections was also commencing insolvency proceedings.
