- The global outage that seriously affected social media platforms like Facebook, WhatsApp, Instagram meant a lot of monetary losses for the sites
- Facebook went down in stock by about 5.5 per cent due to an outage that lasted for about six hours
- Moreover, the Facebook CEO, Mark Zuckerberg, lost about $7 billion to the issue that also cost the global economy a lot of dollars
While the CEO of Facebook, Mark Zuckerberg, lost close to $7 billion, the social media platform went down in stock by 5.5 per cent, following the global outage.
According to NetBlocks, a data-driven online service that monitors internet outages and their impact, the global economy lost $160 million for each hour the outage lasted, Bloomberg reports.
Security experts speak on real cause of outage
Recall that the platforms which went off for about six hours between Monday, October 4 and Tuesday, October 5, had returned to operation.
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In a message to subscribers on Tuesday, Facebook apologised for the outage and confirmed that the platforms “are coming back online now”.
The site noted that efforts to fully restore access to the apps and services have been ongoing with positive results.
The message read:
“To the huge community of people and businesses around the world who depend on us: we’re sorry.
“We’ve been working hard to restore access to our apps and services and are happy to report they are coming back online now. Thank you for bearing with us.”
A lot of security experts had blamed a domain name system (DNS) issue as being the major cause of the outage.
Facebook, Instagram, WhatsApp services shut down in major outage
Meanwhile, the services of the three global social media platforms had all gone down in a major outage.
The social media apps which are owned by Facebook Inc and run on shared infrastructure all completely stopped working shortly before 5pm on Monday, October 4.
In what appeared to be a global shutdown, Legit.ng notes that the three apps also stopped working in Nigeria around the same time.