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 a law student with a passion for writing and music. She writes for Thirstyfornews and enjoys cooking, baking, and playing various instruments. In her free time, she watches movies, TV shows, and anime, with a love for bands like Alcest and Scorpions.

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