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Facebook loses users for the first time in the history of the platform
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Facebook loses users for the first time in the history of the platform

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Facebook has lost daily users for the first time in its 18-year history.

The number of the platform’s users have decreased by about half a million in the last three months of 2021, according to the reports. Facebook reported a drop of nearly 500,000 in daily logins during the last three months of 2021.

“People have a lot of choices for how they want to spend their time, and apps like TikTok are growing very quickly,” Mark Zuckerberg said during a call Wednesday, according to the Washington Post.

The biggest losses are observed in Africa and Latin America, which suggests that the company's long-term desire to attract as many users as possible has reached its peak.

Amid this decreasing, Meta's share price has fallen by more than 26%, to about $ 250 per share and threatens to erase the company's market value by about $ 200 billion.

Zuckerberg reiterated that Meta is pushing hard to develop its short-form video Reels in an effort to compete with TikTok.

“This is why our focus on Reels is so important over the long term,” the Facebook CEO said.

 

Author: Usa Really