Facebook makes play for teens with latest acquisition
Social media giant Facebook is acquiring anonymous friend-polling app TBH. TBH, which stands for To Be Honest, lets users anonymously answer questions about their friends. For example, the app might say “always has the best hair” and the user would respond by picking the person who fulfills that designation from a set of four names in their network of friends. The app keeps things structured like this to avoid the bullying that has, unfortunately, become prevalent online. And it seems to be working: TBH is a massive hit with teens.
Facebook’s share price has risen by 49% so far this year
SOURCE: Yahoo Finance
TBH was only launched on August 3 – yet it already has more than 5 million users, who have sent over a billion messages. You can expect those numbers to grow as the app becomes more widely available – at present it’s only available for Apple’s iOS operating system, and only in some U.S. states.
Facebook’s first effort to cater to teens through a separate service was to pursue Snapchat – but the social media kingpin was rebuffed. It’s been testing any number of games and apps ever since. The reason is Facebook’s core audience is so huge that it includes people of all demographics. In-itself, that makes it less appealing for teenagers, who traditionally seek to carve out their own social spaces away from bothersome parents and annoying little brothers and sisters.
Vanessa Chan, a spokesperson for Facebook, said in a statement: “TBH and Facebook share a common goal -- of building community and enabling people to share in ways that bring us closer together. We’re impressed by the way TBH is doing this by using polling and messaging, and with Facebook’s resources TBH can continue to expand and build positive experiences.”
Dominion holds Facebook in its Global Trends Ecommerce Fund.
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