Facebook Inc. (NASDAQ: FB) has admitted, in it own way, that people do not spend as much time as they used to on the social network, as well as that the company has had trouble selling ads. As a reaction to this, Facebook will change the design of its News Feed, likely very substantially.
According to The New York Times:
Facebook plans to announce on Thursday a substantial redesign of its News Feed — a makeover aimed at both keeping users glued to the social network and luring more advertising dollars.
Company executives have broadly said they want to make the News Feed, the first page every user sees upon logging in, more relevant.
Facebook shares are up fractionally in premarket trading this morning to $27.52. The post-IPO range is $17.55 to $45.00 per share.