Mumbai: The world's largest social media company, Facebook has received a major setback. It dropped out of the list of top ten best brands. Facebook has lost its place in the world's ten most valuable brands due to privacy scandals and lengthy investigation procedures. Facebook has been ranked 14th this time in the Global Brand Consultancy Interbrands Annual Ranking of the Best Top 100 Brands. At the same time, Google has topped the list. Two years ago, this social networking site came eighth in this list.
Apple is on the top in this list, followed by Google and Amazon brands respectively. Microsoft has ranked fourth on this list. At the same time, Coca-Cola got the fifth and Samsung got sixth place. Toyota Company has been ranked seventh in the list. After this, the Mercedes company came in eighth place. On the other hand, Macdonald is ranked ninth and Disney is in tenth place.
When not included in Facebook's list, Mark Benioff, CEO of US-based software company Salesforce, described the social networking platform as a 'new cigarette' that is becoming a child addiction. Facebook agreed to pay $ 5 billion as settlement before the US Federal Trade Commission (FTC) over privacy violations. Following a Cambridge Analytica data scandal affecting 87 million users, users' confidence in Facebook has fallen by 66 percent, according to a survey conducted in 2018 by the independent rich firm Ponemon Institute.