Shares of parent company Facebook Meta are plummeting as it refocuses on the metaverse. Shares fell more than 20%. In addition, the social network Facebook recorded a decrease in the number of daily users.
At the same time, the platform lost users for the first time in its 18-year history – in the last three months of 2021, the number decreased by about 500 thousand users, to 1.93 billion (entering the network every day). This is stated in the material of The Washington Post.
It is noted that the largest losses in the number of users in Africa and Latin America are recorded. Shares of the American multinational holding company Meta fell. And it has run into trouble on multiple fronts as rival TikTok has flourished.
A collapse in stocks could see Meta drop from its ranking of the world’s most valuable companies. “Last year we bet on where we’re headed, and this year we’re going to get results,” said CEO Mark Zuckerberg.
Executives hope the company can reinvent itself. Meta is now under government scrutiny as it faces a major antitrust case in the US.
Incidentally, Facebook user growth in the US and Europe has stalled in the past few years. However, the company has previously compensated for this by consistently adding users around the world. This was helped by Instagram, WhatsApp and Messenger (all 3 are owned by Meta).
As OBOZREVATEL previously reported, US giants dominate the list of the most valuable firms in 2021. So, as many as 8 out of 10 concerns from the rating are from the USA. With a market value of $2.96 trillion, Apple became the first company to ever break the $3 trillion mark. Accordingly, it occupies the first line of the rating.