Facebook outage loss of $160 million

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“Sorry for the disruption, I know how much you depend on our services to stay connected with the people you care about”, said Zuckerberg in his Facebook post 

In the early hours of 5 Oct, Facebook services stopped working globally. Services came back online after 6 hours. It was the largest outage of Facebook after 2019. 

10.6 million reports are received. 

CAUSE

Authorities confirmed that Facebook was not hacked.

The disruption was caused by the changes made in the configuration of the backbone routers. Due to this, the internal tools and network on which Facebook relies for daily connection whacked.  

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These routers coordinate network traffic between data centers. Disturbance in these networks brings this halt in the services. Employees faced difficulty in reaching the place where routers are housed

EFFECTS

  • The disturbance did not just affect Facebook. It brought a halt to the function of all the apps of Facebook Family.
  • WhatsApp, Instagram, and Messenger. Users could not log in from third-party servers either. 
  • All the apps of the Facebook family share the same infrastructure, hence all the platforms stopped working.

MONETARY EFFECT 

  • According to NetBlocks, the cost of this six-hour outage in the global economy is $160 million.
  • Mark Zuckerberg’s net worth fell by more than $6 million.  
  • Facebook’s market shares declined by nearly $50 million.
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There was an outage in June of this year. Although, it was of a much smaller magnitude. Facebook outage happens every once in a while. This outage has left major remarks with big losses. This downtime was stretched to the longest in the last thirteen years.

It has been a difficult week for Facebook after big losses. The stocks declined by 5%. But on Monday morning we saw an uptick of 1%. 

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