This Week in Social Media: October 24th – 28th

By October 28, 2016Blog, Trending

Twitter and Vine

Twitter has seen an overall decline over the past several quarters and even attempted to sell itself at the end of last quarter to no avail. Twitter announced this past Thursday, they will be eliminating about 9% of its workforce as a part of their restructuring plan for the upcoming 2017 year.

Included in this overhaul, Twitter announced that Vine, a video platform which they acquired in 2012, would be shutting down in upcoming months. Vine grew within what seemed like over night, but has decreased in popularity during the past year.

Since Twitter is not growing as quickly as other popular social media platforms, they have had issues persuading advertisers and marketers, as people are hesitant to invest in a company whose growth has almost plateaued.

Will you be missing the social media platform Vine?

Source: Globe and Mail

Facebook

Lets’ not confuse Facebook with Snapchat…

Facebook is beginning to add a feature very similar to Snapchat’s popular filters. The feature is called masks and will be available within Facebook’s live streaming service.

Masks is becoming available for iOS users in the United States, United Kingdom and New Zealand, specifically, for Halloween. Facebook has plans to bring it to additional countries.

Will you be using Facebook’s masks feature or sticking to Snapchat filters?

Source: Mashable

Snapchat

This is an exciting time for Snapchat. Officially called Snap Inc., reports have emerged that they will be begin selling shares in March, 2017. This is called an Initial Public Offering (IPO), and is defined as, “The first time that the stock of a private company is offered to the public.”

Snapchat was most recently valued at about $18 billion by investors when it most in May and the IPO could value the company between $25 to $40 billion according to a Bloomberg News report.

Raise your hand if you’re going to invest!

Source: Forbes