Call me a cinic, but suggesting that we shouldn't be concerned by saying "It is also stored securely on our servers using industry standard firewall technology" seems somewhat naïve. As if that means that our data was adequately protected from prying eyes...
I'd be impressed if they'd turned round and said "We realise it looks like we were trying to expand our business off the back of your private data, and have therefore decided that in our next release we will stop uploading user's contact details altogether. We'll make our social network so compelling that it'll go viral without abusing your privacy."
I'd be impressed if they'd turned round and said "We realise it looks like we were trying to expand our business off the back of your private data, and have therefore decided that in our next release we will stop uploading user's contact details altogether. We'll make our social network so compelling that it'll go viral without abusing your privacy."