Photo-messaging application Snapchat turned down a $3 billion-plus acquisition offer from Facebook last month, and now the company poached Instagram Director of Business Operations Emily White, who was named its new chief operating officer, AllThingsD reported.
When Facebook Chief Financial Officer David Ebersman admitted during the company’s third-quarter earnings call that the social network saw some slippage in daily usage by teens, the doomsday predictions began. Chief Operating Officer Sheryl Sandberg sought to squash those predictions in an interview with Mike Isaac of AllThingsD.
An acquisition offer of more than $3 billion is nothing to sneeze at, but photo-messaging application Snapchat sneezed, turning down an all-cash offer from Facebook, according to a report in The Wall Street Journal’s Digits blog.
3Q EARNINGS CALL: How Is Facebook Responding To The Mobile Transition From An Advertising Standpoint?
Facebook said in its third-quarter earnings report Wednesday that its total advertising revenue for the period was $1.8 billion, up 66 percent when compared with the year-earlier quarter, and mobile accounted for 49 percent of that revenue. During the company’s earnings call Wednesday, Chief Operating Officer Sheryl Sandberg and Chief Financial Officer David Ebersman offered more specific details.
From cat videos to “The Harlem Shake,” the 2012 social election is all but a distant memory, as Republican candidates are taking to Facebook in new and creative ways to stay one step ahead of the competition in the 2014 cycle.
It seems like on a monthly basis, there’s been a report or study that says teens and young adults are avoiding Facebook in favor of other sites or applications such as Tumblr, Twitter, and Snapchat. Some have even felt that it’s a death knell for the future of the company. But as Chief Financial Officer David Ebersman said during Wednesday’s first-quarter earnings call, Facebook isn’t concerned about these reports.
One of the main topics concerning Facebook now is whether or not teenagers are getting tired of the site, or are avoiding the social network completely because it’s not cool. Younger users also likely have reservations about joining a site where their parents are, preferring Tumblr and other sites. Right Mix Marketing put together an infographic, offering some reasons why teens may not want to be active on Facebook.
If you looked at Facebook’s introduction of stickers for messaging (snuck into the latest iOS update) and wondered why they’re on your phone, you’re probably not the target demographic. Stickers, which are essentially supersized emoticons, have been a popular feature in Asian messaging applications such as Line and KakaoTalk. Not only do people use stickers, they pay for them. Stickers have been a major revenue source for Line, and it appears that Facebook may try to enter that market.
Much has been made in the tech and social media news circles regarding Facebook’s eventual demise because teenagers don’t make up a large group on the social network. Brittany Darwell, co-editor of sister site Inside Facebook, wrote that just because teenagers aren’t on Facebook now doesn’t mean that they won’t sign up in the future.