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

Meta shares lost more than a fifth of its value as the company struggles to retain users, indicating the beginning of the end of an era where a handful of Silicon Valley CEOs controlled the flow of information across online platforms.

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 in the previous quarter.