Facebook will no longer be pursuing its ambition of delivering internet through its solar-powered Aquila drone. Facebook is also shutting down its facility at Bridgewater, costing 16 jobs, TechCrunch reported.
Project Aquila had been underway since 2014 with the idea of delivering internet to communities with little or no connectivity. It got stalled owing to the mounting losses and lack of expertise to build an aircraft of this kind.
As Facebook has grown into a network of more than two billion people globally it has lost its luster for younger users who made up a core base. While Facebook has become one of the world's most valuable and powerful companies, it's no longer seen as a cool destination for teens, who are turning to Snapchat and Instagram, which is owned by Facebook.
According to a Pew Research Center survey this year, 51 percent of US teens ages 13 to 17 use Facebook, compared with 72 percent for Instagram and 69 percent who are on Snapchat. The survey found 85 percent used the Google video sharing service YouTube.
The landscape has shifted since a 2014-15 Pew survey which found Facebook leading other social networks with 71 percent of the teen segment. "The social media environment among teens is quite different from what it was just three years ago," said Pew researcher Monica Anderson. "Back then, teens' social media use mostly revolved around Facebook. Today, their habits revolve less around a single platform."
The breakup of teens and Facebook was occurring before the latest scandals which have hit Facebook over hijacked user data and propagation of misinformation. According to a Forrester Research survey 34 percent of US online youth view Facebook "as a website for old people and parents." "US online youth regard Facebook as utility, while other networks that deliver niche value steal attention from Facebook's broad platform," said Forrester's Anjali Lai in a research note.
"Established social networks face an image problem." A separate report by the research firm eMarketer came to a similar conclusion, estimating that Facebook would lose some two million US users under age 24 this year.
Facebook remains king of the social media space and is still growing, though more slowly than in past years. Its profit in the first quarter of 2018 jumped 63 percent from a year ago to $5 billion, and total revenues increased 49 percent to $11.97 billion. And the California company has been moving to become more diversified, with its "family" of apps that include Instagram, Messenger and WhatsApp, and virtual reality gear from its Oculus division.
With inputs from ANI
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Facebook")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}