At the end of the statement is a link to Facebook CEO Mark Zuckerberg's blog, which addresses why the company ditched the new policy.
So, what does this mean? Well, Facebook does want to amend its policy, but now its looking to users for input.
So far, more than 19,000 users have given their input.
The new policy, was as follows:
"You hereby grant Facebook an irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license (with the right to sublicense) to (a) use, copy, publish, stream, store, retain, publicly perform or display, transmit, scan, reformat, modify, edit, frame, translate, excerpt, adapt, create derivative works and distribute (through multiple tiers), any User Content you (i) Post on or in connection with the Facebook Service or the promotion thereof subject only to your privacy settings or (ii) enable a user to Post, including by offering a Share Link on your website and (b) to use your name, likeness and image for any purpose, including commercial or advertising, each of (a) and (b) on or in connection with the Facebook Service or the promotion thereof."
The policy was essentially the same as the old policy but eliminated language saying this license would "automatically expire" if content were removed from Facebook.
And that's what was most unsettling for some users. Facebook said it could use photos and other information loaded to the site long after a user closed their account.
Simply put, Facebook would always have the right to use your information, regardless if you are a Facebook account holder.
In response to the backlash, Zuckerberg, replied in a blog of his own.
"Our philosophy is that people own their information and control whom they share it with," Zuckerburg wrote. "When a person shares information on Facebook, they first need to grant Facebook a license to use that information so that we can show it to the other people they've asked us to share it with. Without this license, we couldn't help people share that information."
The site has 175 million active users and more than 850 million photos are uploaded to the site each month.