Facebook shares drop after News Feed overhaul rolls out
Facebook has announced that it will be making huge alterations to its News Feed, with a change in emphasis that will be focused on connecting people more readily to posts from their friends and family.
“We built Facebook to help people stay connected and bring us closer together with the people that matter to us,” said Mark Zuckerberg. “That's why we've always put friends and family at the core of the experience. Research shows that strengthening our relationships improves our well-being and happiness.”
In recent times, Facebook has become largely centric to posts from businesses, brands and the media. However, with Facebook now aiming to changing its identity, these overhauls will look to address this by prioritising meaningful posts between those connected on the platform.
“Based on this, we're making a major change to how we build Facebook. I'm changing the goal I give our product teams from focusing on helping you find relevant content to helping you have more meaningful social interactions,” Zuckerberg continued.
As a result of the somewhat drastic changes, Facebook’s shares slipped 4%– something that could result in a drop of almost $23bn in the company’s market capitalisation, according to Reuters.