*By Carlo Versano* As Facebook tries to shore up its platform against hackers and show its 2 billion monthly users that it takes their concerns about privacy seriously, the company is actively seeking to acquire a major cybersecurity firm, according to a [report](https://www.theinformation.com/articles/facebook-on-hunt-for-big-cybersecurity-acquisition) in The Information. One of the authors of that story, Sarah Kuranda, told Cheddar Monday that the acquisition could happen by the end of 2018. Facebook's ($FB) leaders are cognizant of the "climate" a year of bad headlines has created ー from the Cambridge Analytica data-harvesting scandal to the most recent breach of 30 million accounts ー both in Washington and among users. "If you look at the last year for Facebook, security and privacy have been a big problem for the company," Kuranda said. An acquisition of a firm that specializes in hacking protections would be a twofold strategy for the social media giant, according to Kuranda: it would add technical capabilities to Facebook's back-end infrastructure and "makes a statement that they're stepping up their efforts in cyber security." But it would still not be a panacea for a company that now handles personal data for almost a quarter of the world's population. "The challenge with cybersecurity is more investment does not necessarily correlate to better outcomes," Kuranda said. And all the investment and resources may be all for naught if there's a single breach. Hackers are "getting smarter every day," Kuranda said ー and Facebook represents one of the most appealing targets, given its size. Users are increasingly reassessing their relationship with the platform because of these concerns. More than half of active Facebook users [said](http://www.pewresearch.org/fact-tank/2018/09/05/americans-are-changing-their-relationship-with-facebook/) they adjusted their privacy settings in the last year, and a poll from earlier this year [showed](https://www.nbcnews.com/business/consumer/trust-facebook-has-dropped-51-percent-cambridge-analytica-scandal-n867011) that trust in the company dropped a staggering 66 percent in just a few months. "People are definitely paying attention," Kuranda said. For full interview [click here](https://cheddar.com/videos/facebook-on-the-acquisition-hunt-for-cybersecurity-firm).

Share:
More In Business
Stretching Your Dollar: When to Opt for a Credit Union Vs. Bank
Kia McCallister-Young, director of America Saves, joined Cheddar News to explain key differences to consider when making a choice between a credit union and a bank. "You want to do your research and know exactly how to gain membership to a credit union," she said, "but, again, banks often are able to be more accessible and be in neighborhoods."
Startup Says 'Smart' Chicken Coops Could Promote Backyard Farming
Producing your own food doesn't mean you have to own your own farm, and it might be as simple as raising some backyard chickens. Agri-tech startup Coop aims to make this easier for non-farmers with a so-called "smart" chicken coop. Cheddar News Senior Reporter Michelle Castillo found a flock to learn more.
Lawmakers Grill Regulators About Banking Collapse
Capitol hill is trying to get to the bottom of the bank collapses that shocked the financial system last month, and today lawmakers grilled banking regulators about why they weren't able to stop the crisis. Cheddar News correspondent Lisa Bennatan broke down the proceedings.
Alibaba to Split Itself Into 6 Business Groups
Alibaba is splitting itself into into six business groups as the Chinese e-commerce company attempts to become more nimble in reacting to changes in the market and increase the value of those units.
Load More