Social media agency: Facebook's not going anywhere

The website's growth in new users has slowed somewhat because most everyone is already on Facebook, says Kevin Evanetski, the owner of Social Yeah, a local social media agency.

He believes it's difficult to get significant growth when some populations have up to 70 percent involvement.

"But the numbers are still increasing, especially in Western New York.  I think from teenagers to senior citizens, I think everyone is pretty much still on Facebook," Evanetski says.

Evanetski believes FB is here to stay because it's become so much a part of our daily lives.

And, he says, it's now up to site's management to figure out a way to monetize nearly a billion people in a different way to make it more attractive on Wall Street.

"How do we do that from people's cell phones, and I'm willing to believe that the brains at Facebook, they'll be able to figure something out," he says.

ERASING MUCH OF MONDAY'S GAIN

Facebook's battered stock closed lower Tuesday, August 21, erasing some of the gains it saw a day earlier.

Regulatory filings revealed Monday after the stock market closed that Peter Thiel, Facebook's first big investor, shed most of his holdings in the social networking icon. Thiel is also a board member.

Thiel originally invested $500,000 in Facebook in 2004. He sold 16.8 million shares in the company's May 18 IPO and another 20 million or so late last week after a lockup period banning the sales expired. In all, he's reaped more than $1 billion from the sales.

On Monday, Facebook's shares hit a new low of $18.75 before bouncing back to $20.01 by the time the market closed. But Tuesday saw the stock dip 85 cents, 4.3 percent, to close at $19.16.