Facebook, the company’s oldest social media network, has 2.9 billion active monthly users. In the same quarter, the corporation brought in $33.7 billion in sales. However, several websites are attempting to eat into Meta’s market share. Continue reading to learn more about Meta’s competitor.
Almost everyone in the world has a social media account, whether it’s to keep in touch with family and friends, earn money as an influencer, or express their thoughts.
In the virtual world, social media is a tool that helps connect people, ideas, and opinions by forming communities and networks. Meta is without a doubt the world’s largest and most popular social networking site.
Meta’s Competitors
Because Instagram is owned by the same social networking behemoth like Facebook, it may appear strange that it is the latter’s biggest competitor. In April 2012, Facebook (now Meta) paid $1 billion to acquire Instagram, a photo-sharing platform. Instagram is thought to be worth more than $100 billion, which is more than 100 times what Facebook spent for it.
LinkedIn is a professional networking website. The site was founded in 2002 and debuted in 2003. It is the primary site for professional profiles and hiring, connecting businesses with candidates.
Companies use LinkedIn to locate qualified candidates, while job seekers use it to find new opportunities. Users may now publish threads and comments about professional difficulties, successes, and news on the site.
Users may like and share other people’s postings, much like they do on Facebook. The site is free to access, but premium features are available for those who pay an annual membership fee.
Snapchat
Snapchat (SNAP) is a relatively new social networking platform. Evan Spiegel, Bobby Murphy, and Reggie Brown created the photo and video sharing app, which was introduced in 2011. Snapchat has 306 million daily active users in the third quarter of 2021.
The app is extremely popular among children under the age of sixteen. It began as a tool to exchange photographs and films with a brief lifespan. Another popular feature is that it allows users to only contact a limited number of individuals.
Twitter (TWTR) competes with Facebook for subscribers and engagement, although the very nature of the service makes it less of a direct competition than some of the other major social media platforms.
The corporation initially set a limit of 140 characters for each tweet, but in 2017 increased it to 280 characters. There are around 320 million active users on the service, and 500 million tweets are exchanged every day.
As of the third quarter of 2021, around 211 million individuals utilized Twitter on a daily basis.