Facebook Shares Drop On Thursday

  Facebook Shares Drop On Thursday It seems that $1 billion investments can no longer maintain their former charm.  

What happened

Facebook  FB (NASDAQ) $344,46 0,00 (%0,00) certainly had a good day as a company and stock, but it was not included on Thursday. Although the social media giant was trading for most of the day, it finally closed the day with a marginal decline of just under 1%.

So What

On Wednesday, CEO Mark Zuckerberg announced in a post on his Facebook page that the company has raised a $1 billion fund for creators. It was announced that these grants will be provided to people who create content for both Facebook's flagship site and photo/video sharing friend Instagram. Zuckerberg explained in his post that they want to create the best platforms for millions of creators. He added that investing in creators is not new to the company, but is considering expanding this work over time, announcing it will reveal more soon.

It seems that $1 billion investments can no longer maintain their former charm.

He said he will channel $1 billion into seed funding for creators to make their work, bonuses, and milestone payouts to meet specific goals.

Now what

Facebook's obvious goal is to steal and attract regulars from specialty content sites like TikTok and Clubhouse, which are hugely popular in the short video and voice chat spaces. Investors have some doubts that it will be over-successful, although they think there is a benefit to getting into competition with this amount.  

Source: The Motley Fool

 

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