Google has agreed to set up a joint venture with Facebook to address privacy concerns over its use of the social network’s data.
The partnership will be the biggest in Facebook’s history.
The agreement was announced on Thursday during the fourth edition of the World Economic Forum (WEF) in Davos, Switzerland.
The announcement follows an intense lobbying campaign from Facebook, Twitter, and other tech giants that has seen its share price fall since the social networking giant announced plans to introduce a “secret” algorithm that would allow it to filter out content from its users.
Facebook has been accused of using its platform to monitor users in order to track down and control them, including tracking their online activity.
Facebook also said that it would pay a fine of $50 million for failing to stop the data collection and analysis of its users by its rival Twitter.
In December, Facebook and Twitter launched a partnership called “Able Analytics,” to make it easier for users to share information on how their data is being used and how it is being shared.
The new partnership will allow Facebook to work with Twitter on the issue of “unmasking,” the practice of identifying users as they leave a website to access its services.
“Unmasking is an important tool for helping protect people’s privacy, and it is vital that we protect the privacy of people on both platforms,” the social media giants said in a joint statement.
“This agreement will also help us build an industry-leading, interoperable and open platform for data protection and data sharing.”
Google said it will also begin a partnership with LinkedIn, which it said is the “world’s largest social network.”
The company said it would work with LinkedIn to address concerns about the use of its data by its data brokers.
LinkedIn also said it was in talks with other social networks about “unblocking” their services.
“This is a critical step in the right direction for protecting people’s data, and we look forward to partnering with these platforms to address their privacy concerns,” Google said.
Google is currently the world’s largest search engine with a market capitalization of $9.8 trillion. Reuters