Last Thursday (3rd Feb), Facebook’s owners Meta Platforms saw it’s stock market price fall by 26.4%, wiping off more than $230bn in a single day. Ouch.
Zuckerberg put the stock price drop down to the likes of newer, more engaging platforms such as the newest big kid on the block, TikTok.
It was also the first time the 18-year-old platform has seen a drop in Daily Active Users,, with numbers falling from 1.93bn to 1.29bn (minus 640m for those who need a hand with the maths…).
Although this news isn’t great for Facebook, it is still one of the most successful Social Media platforms of all time. Facebook isn’t going into just retirement yet, this is just a minor hiccup.
Source: BBC News