Number of people using Facebook reaches 2 billion

Number of people using Facebook reaches 2 billion

The social media network giant Facebook says its ranks of monthly active users have hit the two billion mark -or more than a quarter of the world's population.

Kang-Xang Jin, Facebook's VP of Engineering, explained in a separate blogpost that more than a billion people around the world use Facebook Groups, with around 100m belonging to "meaningful groups".

Mark Zuckerberg took to Facebook a few hours ago to announce that as of "this morning, the Facebook community is now officially 2 billion people!"

This means that the social media giant is all the more giant, and has seen 18 percent growth year over year in monthly active users - and 23 percent, year over year, in daily mobile users.

People are in need of goal and support, the millennial social media mogul said, and Facebook groups can provide that meaning.

He has previously talked about the need to bring people together in both a lengthy manifesto published earlier this year and during his commencement address at Harvard University last month.

So is Facebook trying to make more money or make the world a better place? In an extensive blog post on Nov 19, 2016, Zuckerberg said that Facebook was taking misinformation "seriously", but added that the "percentage of misinformation is relatively small". While that may seem like an awfully lofty aspiration, it's very much in line with the awfully lofty role that Zuckerberg believes Facebook plays in our lives - a role he just likened to that of churches and intramural sports back before the internet and social media permeated every aspect of our day-to-day existence. The idea for our new mission is: "'bring the world closer together'".

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Advertising is virtually Facebook's only source of revenue; it brought in nearly $27 billion in 2016, 57 percent more than the previous year.

Whether it was good for Facebook shareholders-or risks relegating the company to a position behind Google in a line for the President's ear-is less certain.

Shares of Facebook were last trading down 1.5% at $151.26, with a consensus analyst price target of $169.30 and a 52-week range of $110.55 to $156.50.

The most recent high profile incident involved a man in the United States posting a video of himself to the site, showing him shooting and killing an elderly man. Instagram has over 700 million.

"We realize that we need to do more too", the 33-year-old said in a recent interview with CNN Tech.

In a sign of how seriously Facebook is taking the current political climate in Europe, COO Sheryl Sandberg met Friday with the U.K. Home Secretary, Amber Rudd, and highlighted the company's efforts "to keep terrorists off Facebook". "And I just think, if we made that easier, how many more communities like that could you create?"

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