Money Facebook shares slip after News Feed overhaul

17:10  12 january  2018
17:10  12 january  2018 Source:   reuters.com

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(Reuters) - Shares of Facebook Inc fell 4 percent on Friday after Chief Executive Mark Zuckerberg announced changes to the platform's centerpiece News Feed that he said would hit user engagement in the near term.

Jan 12 (Reuters) - Shares of Facebook Inc fell 4 percent on Friday after Chief Executive Mark Zuckerberg announced changes to the platform’s centrepiece News Feed that he said would hit user engagement in the near term.

a close up of a logo: FILE PHOTO: A giant logo is seen at Facebook's headquarters in London© REUTERS/Toby Melville FILE PHOTO: A giant logo is seen at Facebook's headquarters in London Shares of Facebook Inc (FB.O) fell 4 percent on Friday after Chief Executive Mark Zuckerberg announced changes to the platform's centerpiece News Feed that he said would hit user engagement in the near term.

Zuckerberg said on Thursday the company would change the filter for the News Feed to prioritize what friends and family share, while reducing the amount of non-advertising content from publishers and brands.

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CEO Zuckerberg sets 2018 goal - 'fix' Facebook

  CEO Zuckerberg sets 2018 goal - 'fix' Facebook <p>Facebook Inc Chief Executive Mark Zuckerberg said on Thursday his goal for 2018 was to put the business he co-founded on a more solid footing, a break with his longstanding practice of setting a purely personal annual goal.</p>"The world feels anxious and divided, and Facebook has a lot of work to do," Zuckerberg, at 33 one of the world's wealthiest people, wrote in a post on the No. 1 social media network. In past years, his New Year's resolutions have included learning Mandarin, reading two books a month and traveling to U.S. states he had not yet visited.

(Reuters) – Shares of Facebook Inc fell 4 percent on Friday after Chief Executive Mark Zuckerberg announced changes to the platform’s centrepiece News Feed that he said would hit user engagement in the near term.

Shares of Facebook Inc fell 4 percent on Friday after Chief Executive Mark Zuckerberg announced changes to the platform's centerpiece News Feed that he said would hit user engagement in the near term.

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If the premarket declines in shares hold, Facebook stands to lose nearly $23 billion from its market capitalization on Friday as a result of the move.

Pivotal Research Group said its analysis of Nielsen's digital consumption rates showed that usage was already falling prior to Zuckerberg's announcement, although from very high levels.

"We can speculate that the concerns reflected in Zuckerberg's post may very well have been driving these declines," Pivotal's Brian Wieser wrote in a note.

The company has been criticized for algorithms that may have prioritized misleading news and misinformation in people's feeds, influencing the 2016 American presidential election as well as political discourse in many countries.

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Shares of Facebook Inc fell 4 percent on Friday after Chief Executive Mark Zuckerberg announced changes to the platform’s centrepiece News Feed that he said would hit user engagement in the near term. Send to a friend. Close. Facebook shares slip after News Feed overhaul .

(Reuters) - Shares of Facebook Inc fell 4 percent on Friday after Chief Executive Mark Zuckerberg announced changes to the platform's centerpiece News Feed that he said would hit user Recommended For You Powered by Sailthru. Facebook shares slip after News Feed overhaul .

While, Facebook's advertising would be unaffected by the changes, the shift was likely to mean that the time people spend on Facebook and some measures of engagement would go down in the short term, Facebook said.

It may also have an impact on major suppliers of news and other content.

John Ridding, the chief executive of the Financial Times, warned on Friday that the domination of online advertising revenue by search and social media platforms was putting pressure on media firms.

"The FT welcomes moves to recognize and support trusted and reliable news and analysis. But a sustainable solution to the challenges of the new information ecosystem requires further measures," he said.

"In particular, a viable subscription model on platforms that enables publishers to build a direct relationship with readers and to manage the terms of access to their content."

(Reporting by Aishwarya Venugopal in Bengaluru; editing by Patrick Graham)

Selfie app Snow, once a Snapchat clone, raises $50M from SoftBank and Sequoia China .
It's been a while since we heard from Snow, the Snapchat clone app in Asia that Facebook once tried to buy, but today the company behind it has scooped up a $50 million investment from SoftBank and Sequoia China.&nbsp;Snow was started by Naver, the Korean firm behind popular messaging app Line, and it had proven popular in Japan, Korea, China and other markets in Asia thanks to a focus on localized filters, stickers and features. Not to mention Snapchat's famous lack of effort in Asian markets.

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