Facebook to update its Ad format. Facebook renames its News Feed to Just ‘Feed’ .The ‘News Feed’ name had been in place since the feature was first introduced more than 15 years ago. Facebook explained that this is “just a name change” . The ‘news’ label has led some to believe that there are only news stories in the mainstream.
Facebook is one of the most popular social network apps used in the world with about “2.89 billion” monthly active users as of this month. For the first time ever Facebook lost daily users globally, reporting lower-than-expected ad growth that sent its stock plunging nearly 20 per cent.The massive stock drop instantly wiped out roughly $200 billion in its market value. According to Meta – owned Facebook, the net loss is a result of employee costs, R&D, and the cost of products distributed.
The Meta still made nearly $40 billion in profit in 2021, mostly from advertising.
According to the CEO, Meta is making “huge investments” into improving its privacy for users on Facebook, Instagram, WhatsApp, and Horizon by introducing end-to-end encrypted backups and disappearing messages on its WhatsApp platform. Meta additionally plans to add end-to-end encrypted calling on Facebook Messenger. “We had a solid quarter of people turned to our products to stay connected and bussiness continued to use our service to grow” said Meta founder and CEO.
