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Facebook’s plan to connect the whole world

Published by on Aug 1st, 2013, No Comments

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It seems like Mark Zuckerberg and Facebook truly want to take over the world.

Last week, following the announcement of Facebook’s financial results for the quarter ended June 2013, its founder and CEO said that the company’s goal is to “connect everyone”.

“The real goal is to connect everyone in the world and help people map out everything that there is,” he said.

Facebook, the largest social networking site in the world, surpassed the momentous 1 billion monthly users mark back in October 2012.

The site now hosts 1.15 billion users and the company has stated that roughly 700 million of it’s users visit the site on a daily basis.

Zuckerberg continued, “Reaching 1 billion users was a great first thing to focus on because no one had ever built a service that had 1 billion active people who were signed in and had real identity before. But in a way it’s actually kind of just an abstract, there’s nothing magical about 1 billion.”

If there is nothing magical about 1 billion, then Mr. Zuckerberg clearly has his goals set on a whole different level.

Not only has the amount of active users increased, but also the time spent on the site which is continually increasing. David Ebersman, CFO at Facebook Inc. said, “An aggregate across everyone in our network, time spent on Facebook exceeded 20 billion minutes each day in June.”

Now that is a lot of time spent on Facebook.

With the increase in users and international exposure, the world-famous company isn’t doing too bad on the financial side of things either.

Revenue for the second quarter of 2013 totaled $1.81 billion – this is an increase of 53%, when compared to $1.18 billion in the second quarter of 2012.

However, it is not all sunshine and roses. Income from operations was $562 million, compared to a loss from operations of $743 million in the second quarter of 2012.

And it is all too obvious what a difference one year can make. Capital expenditures for the second quarter of 2013 were $268 million, a 35% decrease from the second quarter of 2012.

However, if you are interested in getting your share of Facebook, be prepared to fork out more than last year. Facebook shares, which were priced at $38 in its IPO in May last year, rose 19% to $31.65 last Wednesday and an additional 29.61% to $34.359 last Thursday on the Nasdaq.

Whether it’s through users, connectivity or the stock market, it is clear that Facebook is taking over the world  and that begs the question: Can you imagine a world without it?

Source: businesstech.co.za

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