The announcement came as Facebook announced a price of US$38 per share for its record-setting initial public offering, which would give the leading social network a giant market value of $104 billion (83 billion euros).
Schrems however criticised the changes, saying they presented “one step forward, two steps back” — with users losing their legal rights over their online data and personal profiles.
The advocacy group has proposed changes at www.our-policy.org and invited users to comment — aiming for more than 7,000 comments, Facebook’s threshold within seven days to put the proposed changes up for a vote.
It said the number of comments “means that according to Facebook’s policy they are unable to make the proposed changes. We are now waiting for the first reaction by Facebook!” – Agence France-Presse