POST Online Media Lite Edition


The week Facebook's value plunged $58 billion

Staff Writer |
Facebook ended the week $58 billion lower in value after its handling of a historic data breach.

Article continues below

Its founder Mark Zuckerberg apologised for data breaches that affected 50 million users.

The apology did not stop investors from selling shares in Facebook, with many wondering just how bad the damage would be for the social network.

The breach was called a "light bulb" moment for users, spawning the social media trend #deletefacebook.

All the negative headlines led to some advertisers saying "enough is enough".

Shares in the social media company fell from $176.80 on Monday to around $159.30 by Friday night.

What to read next

Cisco and Facebook targeting Wi-Fi users
Facebook opens first Africa office
Facebook on the top, starting to go down