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Facebook seems to have soured users as well as investors with its initial public offering, a new poll shows.
Facebook’s shares remained down 24% Wednesday from the $38 IPO price of May 18. During that same stretch, the site dropped from No. 1 to No. 4 in the “Customer Loyalty Engagement Index,” a measure of brand perception among 49,000 social networkers polled by marketing consultancy Brand Keys. The index now rates Facebook alongside LinkedIn, and behind Twitter and YouTube. “There’s no doubt that Facebook’s brand was weakened by the events surrounding the IPO,” says Robert Passikoff, founder of Brand Keys. “Originally people felt that they were part of a community and now, for better or for worse, they feel like they are part of a business.”