Platform Power
When Facebook acquired WhatsApp in 2014 for $19 billion, many observers struggled to understand the logic of paying such a staggering sum for a messaging service that generated little revenue.
When Facebook acquired WhatsApp in 2014 for $19 billion, many observers struggled to understand the logic of paying such a staggering sum for a messaging service that generated little revenue.
The parent company of Facebook, Meta Platforms Inc., is set to lay off nearly 8,000 employees and has begun alerting thousands of staff members about the job cuts.
“In accordance with the joint venture agreement, Reliance Intelligence will hold 70% and Facebook will hold the balance of 30% in REIL,” according to the filing.
The temporary suspension of Samajwadi Party president Akhilesh Yadav’s official Facebook account has sparked outrage among party leaders who accused the BJP of attempting to “suppress the opposition’s voice.”
Social media giant Meta has apologised after its automatic translation tool erroneously declared Chief Minister Siddaramaiah dead while translating a condolence message posted by the Karnataka CMO in Kannada on Facebook.
The company said that over 250 million Snapchatters engaged with Augmented Reality (AR) every day on average.
If you too are confused about this but live in the hope to create a spark in the reel world, then you are at the right place.
Lotame estimated the rest of the lost revenue as $546 million for Snap, $323 million for Twitter and $2.2 billion for YouTube.
Moreover, TikTok is predicted to catch up with Google-owned YouTube by clocking $23.6 billion in ad revenue by 2024, reports The Guardian.
As McCardle describes it, the fact that Facebook operates on Apple phones means that it has built a house on someone else’s land. Apple, which owns that land, now wants Facebook off its property. Facebook, it seems, has not yet found a solution to this conundrum. There are many people who will be cheering at Facebook’s loss and hoping that it is the harbinger of its declining power, even if it still boasts almost 2 billion users a day.
