With nearly 3 billion users, Facebook has become the largest social media network in the world.
But now it has been revealed that the number of its daily users is declining.
According to international media reports, this is the first time in 18 years that Facebook’s daily active users have begun to decline.
Meta Networks, Facebook’s parent company, has announced that the number of daily active users dropped to 1.929 billion in the last quarter of 2021.
In the last quarter of 2020, the figure was $ 1.930 billion.
It also states that revenue is declining due to TikTok and YouTube.
Shares of Meta fell 20% on the New York Stock Exchange following the news, and the company’s stock value plummeted by about $ 200 billion.
Its CEO, Mark Zuckerberg, said that meta’s sales revenue was declining, especially as young people turned to other social media networks.