Facebook loses users for the first time EVER: Shares plummet 20%, wiping $200BN off value

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Assessment: Could it be that censorship is taking a toll on the platform?

Facebook lost daily users for the first time in its 18-year history which CEO Mark Zuckerberg believes was caused by the TikTok boom.

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

Facebook reported a drop of nearly 500,000 in daily logins during the last three months of 2021. Zuckerberg reiterated that Meta – the company that owns Facebook, Instagram and WhatsApp – 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,’ he added

Facebook lost daily users for the first time in its 18-year history which CEO Mark Zuckerberg believes was caused by the TikTok boom.

A proud and haughty man—“Scoffer” is his name;
He acts with arrogant pride.” Proverbs 29:24

Facebook lost daily users for the first time in its 18-year history which CEO Mark Zuckerberg (pictured) believes was caused by the TikTok boom

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

Facebook reported a drop of nearly 500,000 in daily logins during the last three months of 2021. Zuckerberg reiterated that Meta – the company that owns Facebook, Instagram and WhatsApp – 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,’ he added

Read More @ Daily Mail HERE