Facebook to Tell How it Makes Money

San Francisco: Facebook has announced to introduce new terms of service, providing its 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 July 31, 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 organizations pay us to show you ads,” noted Anna Benckert. (IANS)

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