Economy Desk: In Bangladesh, India, America, Western Europe, and almost all over the world, Facebook, Instagram, Messenger, and Thread, owned by Meta, suddenly stopped after 9 p.m. on Tuesday. The app automatically logged out with the message “Session Expired.”.
According to the Washington Post, many are worried about whether their accounts have been hacked or not. Then, at 10:23 PM, Facebook was activated again. Although Instagram takes more time to activate, Meta Chief Mark Zuckerberg did not say the reason for this problem, but cyber experts say that the outage is due to server problems. During this period, a huge amount of financial loss has been incurred by this company.
The shutdown of Facebook, Instagram, Messenger, and Threads led to a sudden fall in the share price of Meta. The monetary value of the damage has not been officially disclosed by Meta. Dan Ives, managing director of Wedbush Securities, an economic consulting company based in Los Angeles, told the British newspaper Daily Mail that Meta has suffered huge financial losses in this outage. Meta’s share price fell 1.5 percent in the incident. Zuckerberg lost at least $100 million. Which is more than 1 thousand 98 crores in Bangladeshi currency (as per the current market rate).
Indian news media The Hindustan Times reported that Meta’s share price fell 1.5 percent immediately after the log-out and log-in problems of the Meta platforms first appeared. The company’s share price fell to 1.6 percent. Meta suffered a huge financial loss in that outage of about one and a half hours. 3 billion, i.e., about 3 billion dollars, has been lost in total.
Earlier, on October 4, 2021, Facebook, WhatsApp, and Instagram were down for more than six hours. At that time, Zuckerberg suffered a loss of 7 billion dollars in that six-hour outage. And as a result of this, the world economy suffered a loss of more than 1 billion dollars at that time.
