By David Tomas, on 7 February 2022
We're sure you've heard the most recent Facebook news. Meta, the company that includes Facebook, Instagram, WhatsApp, and Meta Quest 2, made headlines on February 3rd as the price of its shares fell more than 25%, equating to losses of 230 billion dollars. This is the largest drop in a single day for a North American company.
This news comes after Facebook announced that it lost users for the first time, exposing that it is having a hard time maintaining its advertising revenue.
As a result of the bad news, many headlines have popped up predicting the fall of Mark Zuckerburg. However, are they true? Read on for our perspective!
Zuckerberg and Facebook shouldn't be underestimated. When the company went public in 2012, it faced the major challenge of transitioning to a mobile model. Facebook proved that it was capable of making this change and was able to convert in record time.
Mark Zuckerberg has always managed to get ahead of many other companies in the sector. He bought Instagram in 2012 and since then has also acquired WhatsApp and Oculus Rift.
It is true that Facebook doesn't attract nearly as many users as it used to and that Instagram isn't growing as quickly as other social networks. Even so, Meta continues to stay relevant in the digital marketing sector: its platforms are used daily by many companies and users and marketers shouldn't forget about them anytime soon.
As for its future, Facebook's commitment to the metaverse is apparent through its decision to change its name to Meta.
Another area to monitor regarding Meta's future is Web 3.0, although it is being closely monitored by the U.S. government.
It is still too early to determine what will happen to Meta in the long term. Zuckerberg's company is in a new period of transition and it must rethink its existing platform's models and wait for its new business bets to gain more traction.