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France 24

Business

Drop in Facebook user numbers wipes $200 billion off parent company's value

Facebook FRANCE 24 Mark Zuckerberg Meta Stephen Carroll TikTok

BUSINESS DAILY © FRANCE 24

The number of daily users of Facebook has fallen for the first time in the social network's 18-year history. The news sent shares in the platform's parent company Meta plunging by more then 20 percent in after-hours trading on Wall Street – a slump which wipes around $200 billion off its market value. In a call with investors, CEO Mark Zuckerberg pointed notably to the increased competition the company was facing from TikTok. FRANCE 24's Business Editor Stephen Carroll explains.

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