The Mark Zuckerberg-led Meta has witnessed nearly $300 billion, in terms of market value, going down the drain in just one month. One of the primary reasons behind the slowing growth of Facebook’s user base is the increasing competition from the viral video-sharing app TikTok. And, this decline is taking place irrespective of Facebook investing billions of dollars into immersive digital experiences, which is touted to be the future of social media.
The one-third valuation of Facebook that has been wiped off from the market is talk of the town now. Many financial experts believe that Zuckerberg will have to shift gears immediately to avoid further losses and disappointment
In the last 15 years, 88 startups in India have achieved unicorn status. Undoubtedly, it’s a big deal for any country. The estimated collective valuation of these unicorns is $297 billion, lesser than what Facebook owner Meta lost in terms of market cap in just one month.
