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What Social Media Site Will Kill Facebook?

FB stock reflects its top position among social media sites, but that dominance could change

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What Social Media Site Will Kill Facebook? WeChat

facebook-fb-stock-wechatWe tend to look at the rise of the social media site as a U.S. or Western thing, but it’s not. As emerging markets like China and India increasingly become connected, the sheer number of users in those markets will dwarf the North Americans and Europeans who have been driving the social media wave.

Facebook is banned in China, making it virtually impossible for that country’s 1.4 billion residents to access the social media site. But China has its own solution in WeChat (formerly Weixin). It already has 300 million users and — more alarmingly for FB stock — the number of overseas users doubled to 100 million last year.

According to the New York Times, WeChat rivals Facebook for stickiness, thanks to owner Tencent’s (TCEHY) position as an Internet portal and online game leader in China.

WeChat continues to add services like photo and video sharing, it’s the dominant social media site in China and owner Tencent is actively targeting India and Western markets. If you were to ask what a social media site will kill Facebook, WeChat can’t be overlooked.

Article printed from InvestorPlace Media, http://investorplace.com/2014/02/what-social-media-site-will-kill-facebook-fb/.

©2017 InvestorPlace Media, LLC