Facebook Loses Nearly $200 Billion, 1st Drop in Users in Company History

Facebook Loses Nearly $200 Billion, 1st Drop in Users in Company History
Facebook's CEO Mark Zuckerberg in Paris on May 24, 2018. Gerard Julien/AFP/Getty Images
Naveen Athrappully
Updated:

Meta shares have lost more than a fifth of their value as the company is struggling to retain users.

Registering the first sequential loss of customers in the company’s 18-year history, Meta Platforms, earlier known as Facebook, dropped to 1.929 billion daily users from 1.93 billion users in the previous quarter. User growth across Whatsapp and Instagram was also lackluster, resulting in the share price dropping by 20 percent, losing the company nearly $200 billion in market value, which is more than the combined market value of other big tech platforms such as Twitter, Pinterest, and Snapchat.

Naveen Athrappully
Naveen Athrappully
Author
Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.
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