Facebook in Nepal: The digital future or the end of an era?

The world’s biggest social media site, Facebook, lost a record number of users this past year, which led to a loss of almost $240 billion. For the first time in its history since it started in 2004, it lost a million daily users, as the company states. The company blamed the decline on the automatic transfer restrictions of user data to advertisers, announced by Apple and Google. These limits alone cost the social site $10 billion in 2021.

Despite being widely accessible for more than 15 years, the site’s growth momentum is slowing, even declining in some respects. The company’s financial troubles are partly the result of its user base getting older and younger users shifting to video-sharing platforms such as TikTok. Despite its current financial troubles, Facebook is still the world’s largest social network with over 2 billion monthly users.