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| Facebook CEO, Mark Zuckerberg, addressing students at the Moscow State University in Moscow October 2, 2012 Photo Credit: Reuters |
Facebook Inc reported on Thursday hit 1 billion users last month; Chief Executive Mark Zuckerberg said it would keep pursuing growth through mobile devices.
Facebook emerged the No. 1 social network in the world, the site which has faced a rough road since its May initial public offering. Though, investors and analysts are anxious over a sharp slowdown in revenue growth and questioned how Facebook will make money from users as people access its site on mobile devices.
According to Reuters Facebook shares have lost more than 40 percent of their value since the stock debuted at $38.
The company which based in Menlo Park, California, hit the 1 billion milestone on September 14 at 12:45 p.m. Pacific time, the company said on its website. This is up by 45 million users since June.
Meanwhile, the social network has about 600 million mobile users, according to a fact sheet the company posted.
In an interview on NBC’s “Today” show broadcast on Thursday, Zuckerberg was asked by co-anchor Matt Lauer about how, with 1 billion users, the company wasn’t “killing it,” by making money.
“I think it depends on your definition of ‘killing it.’ I mean we are making billions of dollars,” Zuckerberg said. In its last earnings report, Facebook said revenue increased by 32 percent to $1.18 billion in the second quarter.
“There are 5 billion people in the world who have phones, so we should be able to serve many more people and grow the user base there,” he added.
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