Facebook reaches 1 billion users

Source: DRIBBLE NZ NEWS

It has been announced that Facebook, the social networking site has over one billion users a month that use its services but Facebook's shares are down 40%.

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.

The median age of a Facebook user was 22, it said, and the top five user countries were Brazil, India, Indonesia, Mexico and the United States.

The new data came a day after the company said it was letting US users pay a fee to boost the visibility of their postings - the latest effort to look beyond advertising for revenue.

Advertising accounted for roughly 84% of the total revenue in the second quarter.

With Facebook's revenue growth rate slowing sharply in recent quarters, analysts and investors believe it needs to find new ways to make money and Facebook has been rolling out new products to generate revenue.

Last week, Facebook unveiled a feature that lets US users buy and send gifts such as eyeglasses, pastries and gift cards to friends, signaling its intent to play a bigger role in e-commerce.

Congratulations Facebook!