Experts Estimate Losses From Facebook, Instagram, WhatsApp Outages at $160Mln

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Social media - Sputnik International, 1920, 04.10.2021
MOSCOW (Sputnik) - The losses from the mass outages of Facebook, Instagram and WhatsApp are estimated at $160 million, experts from the Internet monitoring and cybersecurity organization NetBlocks reported on Monday.
"With Facebook, WhatsApp, Instagram and Messenger down for over one hour and counting, the Cost of Shutdown Tool (COST) calculates a rough estimate of ~$160m in losses to the global economy," NetBlocks wrote on Twitter.
The organization reports that the social networks and messenger "are currently experiencing outages in multiple countries; incident not related to country-level internet disruptions or filtering."
Facebook founder Mark Zuckerberg himself has lost some $6.6 billion due to the disruptions and fell to the sixth place in the list of the richest people in the world, according to the Forbes Real-Time Billionaires List.
The hourslong global outage appeared to be corrected after platforms were down for nearly seven hours, with Facebook issuing a statement that said: "we’ve been working hard to restore access to our apps and services and are happy to report they are coming back online now."
A follow-up statement issued by Facebook Chief Technology Officer Mike Schroepfer acknowledged that it "may take some time to get to 100%," before offering apologies to businesses and individuals who depend on the platform.
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