Facebook Inc (NASDAQ:FB) has recently been in a lot of competition with Twitter. The two companies have been competing for marketing businesses on their social networks. The latest victory for Facebook came after Meerkat, a video streaming and sharing app, decided to be link users with a Facebook account rather than Twitter.
Meerkat, however, did gain its popularity from being linked with Twitter Inc (NYSE:TWTR), but Twitter decided to cut off the app from its portfolio in March. The move came after Twitter decided to add Periscope, a similar app. Meerkat is available on both Android and IOS devices. Additionally, Meerkat has added a new feature to the app, which allows the users to see what is trending. An additional emoji support makes it easier for users to share their views on videos.
Meanwhile, Twitter has been expressing interest in with media companies, to host online ads. The company has reportedly been in talks to sign a deal with Mic.com. The website targets news from the younger generation. Twitter had made a $90 million offer to acquire the website, which had been rejected. Twitter aims to keep trying to reach partnerships with media companies since Facebook already has a considerable presence in this arena. What Twitter does not realize is that Facebook’s strategy is to strike deals with publishers to display their contents on Facebook. Whereas, Twitter is doing the opposite, it is setting out to buy media partners for branding.
Facebook’s subsidiary, Instagram, has also become a major tool in the commercial brokerage arena. Many realtors have been using the photo sharing app for branding and promotion. Previously, this market had been owned by Twitter and LinkedIn, but now almost all of the big real estate corporations are making the shift to Instagram. The reason for this shift is quite clear. As per statistics, Instagram is the most widely used and most popular photo sharing app out there.
Facebook Inc (NASDAQ:FB) closed at $78.81 after losing 0.23% on May 4. The company has 2.25 billion shares being traded in the market, with a 52-week range of $56.26-$86.07.