Facebook Focuses On Audio Capabilities

To compete with the growing prowess of TikTok, Facebook announced the launch of a new short-form experience called Soundbites. The audio-only version of the TikTok competitor will allow users to move through algorithmically sorted short audio clips. Facebook will be testing Soundbites over the next few months with a small group of creators.

Besides audio, Facebook is also focusing on its developer platform. It recognized that the app ecosystem has broaden beyond games into other categories as well. Its most used apps are social, productivity, and fitness apps. To support the development, it launched App Lab, a service that will allow developers to ship early versions of their apps directly to consumers, without needing to go through its Oculus Store.

Its stock is trading at $319.08 with a market capitalization of $904.7 billion. It hit a 52-week high of $331.81 in April and a 52-week low of $200.69 in May last year.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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