Facebook, founded by Mark Zuckerberg, is a ground breaking social networking site of this generation. What first started as a small networking site among few colleges now expanded to cities all over the world. Facebook users may share as much information as they want on their profile. However, having one’s personal information for the world to see brings up a major concern of privacy. You guessed it right, Facebook has been selling personal data to companies and markets. There are privacy settings which allows users to choose which information may be visible to certain groups of people. Problem is, Facebook has the power to extract consumer’s data anyway. It is not a coincidence when users receive emails about wedding planning when their relationship status changes to ‘engaged’. Although it is not illegal in Germany, Facebook is also known for selling information to employers of big companies so that they can see their future employee’s personal life to determine their suitability for the company.

Source: http://www.businessweek.com/technology/content/may2010/tc20100526_720314.htm