Cambridge Analytica is calling it quits. The data firm that worked for now-President Trump's 2016 campaign became embroiled in controversy following revelations that it misused the Facebook data of millions of people, and Nigel Oakes, the founder of its British affiliate SCL, tells the Wall Street Journal both companies are shutting down. A source says the company was losing clients in the wake of the data harvesting scandal and also faced significant legal fees due to the Facebook investigation.
Cambridge Analytica CEO Alexander Nix had also been suspended in March after video was released showing him bragging about allegedly influencing elections, among other things. The firm is closing effective Wednesday. Gizmodo has an inside look at the lead-up to the conference call announcing its closure, down to the bleak jokes employees made in anticipation of it. (Read more Cambridge Analytica stories.)