CNNMoney reports on the reasons why the EU General Data Protection Regulation is forcing companies to shut down. While larger companies will be able to withstand the cost of complying with the GDPR, smaller companies do not have the resources to make the necessary changes for the law. Mobile marketer Verve’s chief marketing officer, Julie Bernard, said her company will no longer operate in Europe as "the regulatory environment is not favorable to our particular business model." Online game creator Uber Entertainment cited GDPR costs as the reason why they will be shutting down May 23. Czech social platform Seznam.cz will close before May 25, as well, due to the challenges of reformatting its company, while another social media service, Klout, said the GDPR accelerated the timetable for closing its doors.
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