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A whopping $ 24 billion has slipped out of the hands of Facebook’s parent company head Meta’s Mark Zuckenberg after the company’s share price fell after the last quarterly report.
Meta shares fell more than 20 percent after the company announced lower-than-expected revenue figures, as well as a record drop in Facebook users for the first time in 18 years.
The number of daily active Facebook users fell to 1.929 billion in the last quarter of 2021, compared to 1.930 billion in the previous quarter, as the company mourns the TikTok and YouTube apps that are being used more and more by people all over the world. the world.
“The teams are working quite well and the product is growing very fast. “The thing that is somewhat unique here is that TikTok is already a big competitor and also continues to grow at a very fast pace,” said Zuckenberg.
TikTok has become increasingly popular among new users, who prefer the video sharing platform instead of getting Facebook and Instagram likes as a way to interact with followers.
On the other hand, Facebook seems to have been damaged by the privacy changes in the operating system of the company’s devices, which complicate the process of targeting and measuring the effect of their ads on this network and Instagram.
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