Welcome to Ad Age's Wake-Up Call, our daily roundup of advertising, marketing, media and digital news. What people are talking about today: In the latest sign of the magnitude of Facebook's crisis, the co-founder of WhatsApp, Brian Acton, tweeted, "It is time. #deletefacebook". Acton became a billionaire when Facebook bought WhatsApp in 2014 for $19 billion; now he's joined the ranks of one-time Facebook insiders bashing the company. Will masses of Facebook users desert the social network? Probably not. It's not so easy to quit, as The Daily Beast points out. EMarketer has said it sees no signs of advertisers leaving, either.
But investors are worried, and Facebook has lost over $60 billion in market value since reports this weekend explained how Cambridge Analytica, a political data firm that worked on Donald Trump's 2016 presidential campaign, was able to gather data from tens of millions of Facebook users. "Facebook just lost more than twice Tesla's entire market cap in two days," as Bloomberg News puts it.
Other Facebook developments: