Looks like the social media wars are heating up. Facebook sets sights to its new competing service against TikTok and is offering money for the competing platform on Instagram. And, what better way than to offer financial incentives to invite TikTok creators over to a new look alike TikTok service on the Instagram platform. Facebook is inviting influencers to use Reels on the social media platform.
TikTok CEO Mayer says TikTok welcomes the competition. influencers to use Reels.
Facebook has a lot of loyal users and will most likely succeed with their Instagram Reels platform on Instagram. TikTok faces many challenges ahead due to the scrutiny from Washington about the usage and security of user data , particularly over the large unfavorable relationship between the United States and China.
Facebook is the king of social media and it has nimbly bought companies to broaden its suite of services to the largest social media base on the planet. Zuckerberg says, “ Facebook believes in competition and free expression, but “there’s no guarantee our values will win out. “China is building its own version of the internet focused on very different ideas, and they are exporting their vision to other countries.”
The BBC reports the lawsuit filed in a Californian court last week claims TikTok “clandestinely… vacuumed up and transferred to servers in China vast quantities of private and personally-identifiable user data”. Source:NBC news
Facebook has a profit Margin of 28.57%
Return on Assets (ttm) 13.40%
Return on Equity (ttm) 21.85%
Total Cash (mrq) 60.29B
Mark Zuckerberg is the founder, chairman and CEO of Facebook, which he founded in 2004. Mark is responsible for setting the overall direction and product strategy for the company. He leads the design of Facebook’s service and development of its core technology and infrastructure. Mark studied computer science at Harvard University before moving the company to Palo Alto, California.
Sheryl Sandberg is chief operating officer at Facebook, overseeing the firm’s business operations. Prior to Facebook, Sheryl was vice president of Global Online Sales and Operations at Google, chief of staff for the United States Treasury Department under President Clinton, a management consultant with McKinsey & Company, and an economist with the World Bank.
Bio Source: Facebook
2020, the global number of Facebook users is expected to reach 1.69 billion, up from 1.34 million in 2014.
CWEB Analysts see the stock as a potential for long and short term growth with huge rewards for Facebook and potential upwards of $800 by 2021.