FB Failure #1 – Facebook Poke App
The Facebook Poke mobile app allowed users to send texts, photos or videos to friends — and they would self-destruct within a few seconds. Sound familiar? It should. The Poke app was a total knock-off of SnapChat, which was rapidly becoming popular with teens and twenty-somethings. It was also a big worry for those holing FB stock.
On the day of the launch, Facebook’s Poke hit the No.1 spot on Apple’s app store … but it would then plunge in the rankings. In the meantime, SnapChat would move up to be one of the top five apps … in the world. It was a huge embarrassment for Zuckerberg & Co. And it put pressure on FB stock, which fell below $30.
Why the failure? It’s hard to tell. But one reason is that FB probably waited too long. For the most part, SnapChat had quickly captured the category. It also helped that the new app was considered cool. But Facebook and its Poke app seem more like an old-line service … and it has become mostly boring for teens, which has certainly been an nagging issue for those who own FB stock.