Facebook has a large potential to grow further, as there are many people on the Internet who are not logged on to the site
Facebook Inc. (NASDAQ:FB) has finally fulfilled its initial goal to become a platform that embodies globalization at its fullest. For the first time on August 24, one billion people (nearly 15% of the world’s population) logged onto Facebook in a single day.
In a post on his Facebook profile, CEO Mark Zuckerberg acknowledged this milestone. He stressed that the platform has become an important place for friends and family to meet each other.
This figure should not be juxtaposed with average daily users, which is calculated over a 30-day period. Facebook recorded 968 million daily active users in June, with most of them living outside the North American region.
The reason for Facebook’s exponential growth can be attributed to the smartphone photography and selfie trend, which compels people to share their experiences with Facebook friends, and vice versa.
Recently, Facebook has become an active social-campaigning platform, considering how the ALS Ice Bucket Challenge became popular with Facebook users, and eventually helped raise awareness and money. Consequently, it became a global trend during the summer of 2014.
Facebook’s growth has been in large spurts; it began with 12 million monthly users in 2006, and rose to 360 million in 2009, 600 million in 2010, and one billion in 2012. This reflects a large traction in popularity and business model sustainability. The platform still has a large potential to grow, since there are still many people on the Internet who are not logged in to Facebook. Thus, the company can look forward to increase its revenue.
Facebook is lucky to have such a visionary CEO, something that Twitter Inc. has lacked. Mr. Zuckerberg’s policy to constantly make changes on the platform has kept the user experience exciting. Services such as Messenger, emoji, and video have been added over time, to further extend ease of communication.
Additionally, Mr. Zuckerberg launched Internet.org to facilitate Internet access to underdeveloped and remote areas. In the process, he brought new and diverse people to the platform.
As per Statista’s report, Facebook had 1.49 billion monthly active users (MAU) during the second quarter of fiscal 2015 (2QFY15). Mobile computing’s proliferation has also bolstered Facebook’s usage, and the platform garnered 1.31 billion MAUs during the quarter.
Perhaps, Facebook’s biggest asset is the huge amount of data it has through its social platform, as well as its WhatsApp and Instagram acquisitions. This will enable the company to earn money from advertisers and marketers, who require data to personalize the ads, and target the right audience.
If the growth trajectory is sustained, then it can be projected that the company will reach 2 billion users in a day by 2020.
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