Facebook reaches a billion monthly users, report says

Facebook reached the pinnacle of social networking by grabbing attention of a billion people around the world. The company has registered 1 Billion monthly global users, a recent report said. CEO Mark Zuckerberg was also there to comment on the milestone achieved.

“Helping a billion people connect is amazing, humbling and by far the thing I am most proud of in my life,” Zuckerberg wrote in a short blog post.

The CEO also published a link to the complete report complete with all the data combed from the daily and monthly use of the social network. It provides a deeper insight into the matter what is trending in Facebook and why is not making the investors happy.

A quick read of the report says that the growth at Facebook has slowed over the last two years. However, it was inevitable that fewer and fewer people are going to subscribe to the service in the coming years. With one billion users now the company has one in seven of the world logging on to Facebook, at least one a month. This is a great achievement in its own right.

“I am committed to working every day to make Facebook better for you, and hopefully together one day we will be able to connect the rest of the world too,” he said enthusiastically in his post.

The number of Facebook users reached 50 Million in 2007, 100 Million in 2008 and 500 Million in 2010 but it took two years to reach a billion users, according to the report. It also says that around 600 Million of those people are monthly mobile users and more than a half of them user only smartphones and tablets to connect to it.

The growing mobile usage has become a problem for Zuckerberg and company because these platforms lack the oomph for advertisement, the biggest money making tool for Facebook.

That is the reason why investors were not savvy with the latest achievement. FB stock rose only 0.5 percent after the news to $21.96. That is almost 40 percent below the face value of the shares, $38.

Short URL: https://www.newspakistan.pk/?p=33706

Posted by Usman Khalid on Oct 5 2012. Filed under Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.