Facebook loses users for the first time in the history of the platform
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.
Finally some good news
— Truckistan Amb. Poso ???? (@JackPosobiec) February 3, 2022
Facebook loses users for the first time EVER: Shares plummet 20%, wiping $200BN off value of parent-firm Meta after it revealed 500,000 fewer daily log-ins and declining profits - Zuckerberg's personal wealth takes $29BN hithttps://t.co/nsDws084PV
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.
"An activist group calling itself The Real Facebook Oversight Board seized on the results to warn of what may come next.
— The Real Facebook Oversight Board (@FBoversight) February 3, 2022
'Facebook appears to now be feeling the impact on ad revenues from Apple’s new privacy-first approach,' the group’s statement said."https://t.co/66U8OzR5Vp
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.
Mark Zuckerberg just lost $24 billion in net worth, as Meta stock drops 22% in after-hours trading.
— Tristan Snell (@TristanSnell) February 2, 2022