Facebook’s total user base dropped for the first time in 17 years, know what the report says
On Wednesday, the valuation of Meta caused a loss of about $ 200 billion. After hours of trading, Meta’s stock fell 22.9 percent to $249.05.
Meta (renamed Facebook) – file photo
Facebook was started in 2004 and since then, it has seen a huge increase in its daily active users but Meta Since rebranding itself as AS, it has seen a decline in its profits. This is revealed from the quarterly report released on Wednesday. according to the report WhatsApp And Instagram For, user growth was flat. Facebook has seen many controversies in recent years. But now, the company which was recently brought under the new Origin meta, is seeing a decline in its user base. This is the first time in Facebook’s 17-year existence that its user base has actually decreased. According to the quarterly report released by Meta, Facebook lost nearly half a million global daily users in the fourth quarter of 2021 compared to the previous quarter.
While the number isn’t staggering, it’s the company’s first lowest point in its lifetime compared to its current user base of 1.93 billion, while it also has instant messaging apps WhatsApp and Instagram. The Verge reported that the loss in daily active users was highest in North America (about 1 million), where advertising generates the most. The report further states that in other meta apps like WhatsApp and Instagram, user growth was much lower.
The company lost about $ 200 billion
On Wednesday, Meta’s quarterly report also posted sharply higher costs but projected weak revenues, a move that scared investors and dented the company’s valuation by nearly $200 billion. After hours of trading, Meta’s stock fell 22.9 percent to $249.05.
Meta is investing heavily in its future “Metaverse” projects. Meta CEO Mark Zuckerberg describes it as a “virtual environment” in which you can contain yourself instead of just staring at a screen. The Metaverse will be a place where people can meet, work and play with each other using virtual reality headsets, augmented reality glasses, smartphone apps or other tools.
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