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Facebook turns 10 tomorrow, and it finally has reason to celebrate

Social network's mobile push is starting to pay off
Mon Feb 03 2014, 13:36
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SOCIAL NETWORK Facebook will see its 10th birthday on Tuesday, and it seems the firm finally has reason to celebrate.

Facebook founder and CEO Mark Zuckberg launched the social network on 4 February 2004. Then the website was known as Thefacebook, and was conceived as a way for US college students to connect online.

Since Zuckerberg created it in his dorm room at Harvard University, Facebook has had a rollercoaster 10 years. The firm struggled to impress investors, the website has found itself at the centre of multiple privacy storms, and lately users of the website reportedly have been leaving it droves.

However, with Facebook having announced its latest earnings last week, it seems that the social network finally has reason to celebrate, and it looks like the firm has mobile traffic to thank.

The firm long said that it wanted to break into the mobile market, and it seems it has finally managed it. Facebook boasted that it now has 945 million mobile users, 556 million of which were active during the month of December - a 49 percent increase year on year.

Thanks to this apparent explosion in mobile members, Facebook announced revenues of $2.59bn for the fourth quarter, beating analyst expectations and seeing its cash flow increase 63 percent compared to the fourth quarter of 2012.

Just hours after its earnings call, Facebook announced that it will expand its mobile focus with the launch of Paper, a Flipboard style iOS app that early reviews have claimed is better than the firm's main applications. The company reportedly is also looking to bring Graph Search to its mobile users any day now.

Despite reports that Facebook is losing its attraction among younger users, Zuckerberg also boasted that the social network now has 1.23 billion active users in total, an increase of 16 percent year on year and equal to around a seventh of the world's population.

Zuckberg reflected on Facebook's first 10 years during the firm's earnings call last week, saying, "We're looking forward to our next decade and to helping connect the rest of the world." µ

 

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