Facebook Shares Slide After “Graph Search” Announcement
Yesterday, Facebook (FB) announced its new feature, Graph Search, which essentially amounts to a more targeted search engine for the social network.
The results are personalized to you and your Facebook friends. So, if you were looking for someone to do some work on your house, Graph Search might bring up a handyman your friends have commented on or “liked” in the past.
It can also access data that other users (who aren’t your friends) have shared publicly on Facebook.
And before you ask… No, it’s not a Google (GOOG) killer.
When asked if it could one day replace Google with this new feature, Facebook’s Project Management Director, Tom Stocky, said, “I don’t think that’s the way we think about it… There’s all this stuff that you shared about yourself… We’re trying to unlock the value of that.”
No matter how valuable users find this new feature, though, investors obviously weren’t impressed. Shares have been on a downward slope since the company made the announcement.
The main reason? Facebook currently has no plan to monetize the new search function…