Sunday, March 3, 2013

Continued Decline of Facebook

I've written before about the over-inflated stock values for Facebook, and that its popularity had peaked and been falling well before its IPO. (See here, here, and here). Now, even Facebook is admitting it. From the Daily Mail:
Facebook has made the startling admission that teenagers are becoming bored with the social networking giant.
Facing competition from younger, more agile and 'cooler' apps such as Snapchat and Instagram, Facebook fears its long-term business could be harmed.
And as Facebook approaches its tenth anniversary the firm published its annual 10-K report last month revealing that its younger users are increasingly turning away from the multi-billion dollar business.
... However, it did not divert from the fact that teenagers are very often a plausible, but non-scientific barometer for trends - especially what is cool and what is not.
Indeed, the founder and of new social networking site Branch, Josh Miller, asked his fifteen-year-old sister for her opinion on Facebook.
Her verdict was damning: 'She tries to visit Facebook as infrequently as possible,' Miller wrote, because it’s addictive, and because it’s not as fun as Instagram. 'Facebook may have an irreversibly bad brand,' Miller concluded.

Web-expert, Laura Portwood-Stacer was more concise in her opinion of how Facebook relates to today's teenagers.
'I think it has less to do with kids consciously looking for 'the next big thing' than Facebook just no longer being a space that serves them,' said Laura Portwood-Stacer.
The article notes, however, that Facebook owns Instagram.

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