"Look at how Google has struggled moving into social, and I think Facebook is going to have the same kind of challenges moving into mobile," said Jackson.

The prediction of Facebook's demise comes just weeks after the . Although many financial analysts had expected the company's stock to rocket from the to $50 or even $90 a share, the stock never popped.

At the market close today, Facebook's stock price was down to $25.87, well below its initial offering.

Patrick Moorhead, an analyst with Moor Insights & Strategy, doesn't agree that Facebook will slip to become a second-tier player in under 10 years. But he does think the company may have some troubles ahead.

"Facebook won't disappear in five years, but I'm confident they won't see the same growth rates as they are seeing today," he added. "Even with the rise of more vertically-oriented sites like Pinterest, Instagram and , consumers will need a social home-base where all their acquaintances and friends are accessible."