Facebook, along with Google (Alphabet Inc.), Amazon, Apple, and Microsoft, is one of the Big Five American information technology companies. The company’s name was recently changed to Meta. As Facebook lost users for the first time, Mark Zuckerberg blamed Tiktok.

According to TMZ, Facebook lost more than 20% of its value on Thursday, and it’s not only a sign that TikTok is steamrolling Mark Zuckerberg‘s baby, but he appears to be aware of it. During the last three months of the year, Facebook lost approximately 500k daily logins. To put that in context, it now has approximately 1.93 billion daily users.

It’s still a big number, to be sure, but when it comes to the Benjamins, it makes a big difference. Meta dropped 22.6 percent in value on the stock exchange on Wednesday. This equates to a $200 billion loss.

Zuckerberg attributed the increase to people spending more time on other apps such as TikTok. That has to hurt because Zuck alone took a $29 billion hit. Facebook has been under fire recently, with Congress breathing down its corporate neck. It has also lost favor with the younger generation.

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Shivangini Rawat

Shivangini is presently pursuing her LLB degree. She has a lot of dreams for the future, and she's working hard to achieve them. Thirstyfornews was one such chance that enabled her to take a step forward. Apart from her ambitions and academics, Shivangini enjoys cooking and baking. She is also a great music fan. Her favorite bands are Alcest, Thy Light, Scorpions, AC/DC, Motorhead. She also loves playing a variety of instruments. Movies, TV shows, and anime are always on her to-do list, especially on weekends.

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