For the first time since its inception, Facebook on Wednesday marked drop in the number of daily users globally, The Verge reported.
According to data published by Meta Networks, Facebook's parent company, the last quarter of 2021 saw just 1.929 billion active users, compared to 1.93 billion in the previous quarter.
However, the number of monthly users remained static, at 2.91 billion per month.
Following the report, Facebook's value registered a drop of 20% - about $200 billion - in after-hours trading in New York.
Facebook's founder Mark Zuckerberg blamed the drop on younger users leaving Facebook for Tiktok.
BBC quoted Zuckerberg as saying, "The teams are executing quite well and the product is growing very quickly. The thing that is somewhat unique here is that TikTok is so big a competitor already and also continues to grow at quite a fast rate."