“This is something we think is going to be a really good thing.”

What was once heralded by Facebook CEO Mark Zuckerberg as a unique advertising platform that would connect brands with users is now a footnote.

As part of a class action lawsuit aimed at Blockbuster for releasing user information, Facebook is finally pulling the plug on the troubled ad platform.

The lawsuit also requires them to set up a $9.5 million foundation to promote online privacy.

Beacon raised red flags among the Facebook community from its inception amid concerns over just how much of their personal info would be released.

Even after initial problems, Zuckerberg was still upbeat about the service, saying that it “might take some work for us to get this exactly right.”

By 2008 after things had gone downhill with Beacon however, even he admitted that “Beacon was a big mistake for us.”

Where Facebook seems to have gotten it right is in Facebook Connect, a direct result of their work on Beacon. Connect lets users control how and what information is release, not the advertiser.