In the past year Facebook users have been at a low. It seems that right as the older generations started to use Facebook, the younger generations have started to wean themselves off of the site. Although the site will never go away because of its use of timelines and archiving life event, it seems that the younger generation is steering towards relying solely on other social media applications, such as SnapChat and Instagram. Facebook slumps as other media sites are taking over.
Why is there a slump in Facebook? This, researchers are still unsure of. But one thing is for sure — Facebook is not the future of social media and Snapchat is.
Yesterday, Facebook offered the CEO and co-Founder of SnapChat, Evan Spiegel, who is just 23 years old, $3 billion offer…and he turned it down. He’s either 1) an idiot not to take the money and run, 2) protective of his company, 3) sees the potential in what SnapChat can be and realizes it’s worth more than $3 billion.
In the past year companies and brands started using SnapChat as an advertising tool, encouraging users to add them on SnapChat and then sending them out catchy photos or video promoting their brand or event. Certain organizations and designers have jumped on this opportunity (and already mastered the skill), while many still have to hop on the bandwagon. With many people still not using SnapChat, the potential is there, and it keeps growing in popularly and market use. So, what is the Facebook of the future? What will SnapChat become?