"Their" instead of "its," standard English?

It is acceptable to refer to a company as either a single entity or as a 'group of people'. Whichever you decide to do, you should be consistent throughout the article, at least, and most certainly in a single sentence or paragraph! "MyLot is very strict about their moderation policy" is simply sloppy English (the use of "is" introduces a singular subject but "their" implies a plurality!). The same applies in the passage you quoted. If an article begins by referring to a company as single entity, then it should do so throughout. Of course, if one then (in a subsequent paragraph) refers to the directors or the workers of the company and extol the products they make, store and ship, that might be acceptable (though still sloppy enough to make me go "Ho-hum!" if I were editing the article for publication. In short, "MyLot are very strict about their moderation policy" and "MyLot is very strict about its moderation policy" are both correct English ... but referring to a company in the singular at one point and in the plural somewhere else in the same passage is inconsistent, sloppy and (if the writer is being paid for the article) unprofessional. Unfortunately, there's a lot of it about ... even some very experienced and well-known writers have been guilty of doing it!

i think it's because we were taught to use it, that, those, etc for places, things, concepts, not people. but in reality, what i've noticed is that native english speakers do the opposite. ex. i need employees that come on time. my cat poochie is a big boy who loves sleeping in my bed. i think it depends on the document (like if it's something official) and depends on the recipient if they're okay with what's commonly used.

.Yeah i read the statement its sounds much better to the ear but the norm is theirs.Actually many editors mnake the mnistake so it had become the norm.