Facebook Developing New Meme-Based Platform

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Facebook, which has seen ailing engagement numbers with teens, has embarked upon a new development project. They are working on a new platform, called LOL, that is aimed at younger users.


TechCrunch

Facebook has come a long way from its origins as a "hot or not" website for college students. These days, young people have largely moved off of Facebook in favor of other social media platforms like Snapchat and Instagram.

LOL has been under development for months. Facebook describes it as "a feed of funny videos and GIF-like clips." The content will reportedly be sortable by topic.


The Financial Express

LOL is in its beta testing phase, with 100 high school aged students. Not many other details are known.

This new development comes on the heels of two failed ploys, Poke and Slingshot, neither of which made a dent in other social media platform's engagement in the target demo.


PhoneDog

While Facebook is the third most visited website on the planet, behind Google and YouTube, its numbers are dropping. It appears to be losing a battle with more mobile-oriented services. While the majority of Americans (68%) still use Facebook, only half of American teens still log in consistently. A dramatic decline from three years ago. The number of Facebook users over 65 has, in that time, doubled.

Although it appears the platform is slowly waning, and is skewing towards an older user base, it's still prolific. Facebook isn't going anywhere anytime soon.