Friday, December 28, 2012

Facebook Shares Slump As Users Flee Instagram After Privacy Outrage


Shares of Facebook, Inc. (NASDAQ: FB) slumped as much as 3% on Friday after data from the website AppData showed that Facebook-owned had a sharp drop in users on Christmas day. AppData, a site that tracks application usage, only tracks users who are logged into Instagram through Facebook. You don't have to log in through Facebook to use Instagram. According to AppData, Instagram had 14.5 million active users on Thanksgiving Day. That number had fallen to 12.5 million by Christmas. Facebook bought the popular photo-sharing service $1 billion in April this year.

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