News > How A Startup Founder Lost His Company And $100 Million By Relying On Facebook
How A Startup Founder Lost His Company And $100 Million By Relying On Facebook
01/03/2022 04:03 PM | Click to read full article
Minor changes in how social media giants like Meta's Facebook and Instagram operate can dent the profits of an emerging company. A startup founder's story is testimony to the same, for he claims that his startup lost $100 million by relying on Facebook.
When Facebook tweaked its algorithms in 2018 to deliver customised content to people's feeds, the company lost 90% organic traffic on Facebook.