After Google, Apple's Privacy Update Proves Costly For Facebook: Bloomberg

Amazon.com Inc's AMZN now seeks to snatch Facebook Inc's FB advertisers after stealing Alphabet Inc GOOG GOOGL Google's share, Bloomberg reports.
Apple Inc's AAPL June privacy changes on iPhones have made Facebook advertising less effective. Apple prompted some brands to seek alternatives to advertising on Facebook and its Instagram unit.
Amazon, with an estimated 153 million U.S. Prime subscribers, has become the obvious alternative.
Over 40% of New York marketing agency Belardi Wong's June roster reported a decline in their Facebook ad performance, sending them rushing for other options. Wong saw increased clients branch out to marketplaces like Amazon.
Vanity Planet, a Belardi Wong client that sells home spa products, is reducing its Facebook ad budget by 22% this year, partly due to the privacy changes and shifting half of that money to Amazon.
Amazon's "other" category, mainly advertising revenue, grew 87.5% in Q2 versus Facebook's 56% growth.
Lesser tracking preferences by iPhone users makes it more challenging for Facebook and other online companies to tailor their ads to help business find their most promising customers.
Shinesty.com, a direct-to-consumer brand, is increasing its presence on Amazon this year while keeping its Facebook marketing budget flat.
Price action: FB shares closed lower by 0.52% at $361.61 on the last check Monday.