I just happen to be on both FB and WeChat, because I have friends on both sides of the picture (English-/Chinese-speaking). I tend to have more social interaction with contacts on WeChat but many of them are conversely oblivious to the Facebook world. While they don't know about all your awesome house parties whose invitations appear only on Facebook, there are a whole slew of other awesome house parties happening on WeChat in the Chinese-speaking world of the Bay Area. Yesterday was the Duanwu festival, and my WeChat was flooded with people asking for who/where to buy dumplings from, others organizing parties to make them, yet others organizing camping trips, and you get the idea.
Also, I wouldn't say I'm missing out. I'm in a PhD program with a pretty active department. It is pretty easy to find out what is happening. The only events I missed were when I first started, and I chalk that up to more people not knowing who I was.