Facebook, WhatsApp and Instagram are back online after the outage, but have lost $5.9 billion during the outage


Facebook has announced that its social networking services - Facebook, Whatsapp and Instagram - are back online after an outage of about six hours.

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According to the company, the outage was due to a configuration error.

All three services are part of Facebook and are not available online or in smartphone apps. The outage was the largest in history, with 10.6 million recorded outages worldwide, according to Downdetector.

The service was suspended at around 4pm Japanese time and resumed at around 10pm.

Facebook said in a statement on Tuesday that the outage affected its internal devices and systems, making it more difficult to fix the problem.

The company also said there was "no indication that user data was compromised as a result of this failure".

Facebook founder Mark Zuckerberg has already apologized to everyone affected by the bug.

On Monday, investor confidence in Facebook took a small hit from the mix-up. The cause was ongoing political pressure and rare, recurring problems in the company's apps, which led to a 4.8 percent drop in the company's share price and a $1 billion loss for CEO Mark Zuckerberg.

Zuckerberg's fortune has fallen by $5.9 billion to $117 billion making him sixth richest in the world. Vice chairman Sheryl Sandberg's fortune fell to $1.9 billion.

Facebook's share price was hit by two factors: the unusually long shutdown of the Instagram platform and a drop in revenue due to a glitch in the WhatsApp app (which had daily revenue of about $330 million in the previous quarter). The most recent outage occurred in 2019, when the network was down for 14 hours, compared to just one day ten years ago, in 2008. Facebook's internal systems were also disrupted on Monday, with employees unable to access the company's internal communications and email systems and some doors at its headquarters.

In another Facebook-related case, former product development chief Francis Haugen will explain his decision to become a whistleblower and share confidential information with the Wall Street Journal at a congressional hearing on Tuesday. In an interview on 60 Minutes yesterday, he accused Facebook of putting profits before people and failing to guard against misinformation ahead of the 2020 presidential election.

However, Facebook's share price continues to rise in the wake of recent scandals, such as last year's advertising boycott and the January 6 riots. On Monday, the company's stock hit a record high of $326 and has risen more than 150 percent in five years.

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Oct 05, 2021