Facebook reaches one billion users

4 October 2012
By Rachael Fergusson
Mobile version
Share |
Facebook loads on a mobile phone.

Facebook loads on a mobile phone.

Facebook has topped one billion users, but the past few months have not been easy.

Facebook CEO Mark Zuckerberg said today the company is going through a bit of a "rough cycle" after its rocky initial public offering in May.

Zuckerberg also updated his Facebook status to announce that the social networking site has more than one billion active users each month.

The company has had a difficult time. There were trading glitches the day it went public and concerns about its revenue potential. It is also facing lawsuits from disgruntled shareholders.

Zuckerberg said in an NBC interview that "we're in a tough cycle now and that doesn't help morale, but people are focused on what they're building".

The 28-year-old also continued to insist that he is the right person to lead Facebook. Some on Wall Street have questioned whether he has the ability to lead a large public company.

"I take this responsibility very seriously," he said.

Last month, Zuckerberg gave his first interview since Facebook's shaky IPO, and he has been trying to boost confidence among investors and the public.

He said today that Facebook's future is about mobile. The company has been criticised for not capitalising on mobile quickly enough.

Facebook Inc's stock gained 45 cents, or 2.1 per cent, to $22.28 in pre-market trading. The shares closed at $21.83 yesterday, off 43 per cent from its $38 IPO price.

Share |

Latest Issue

E&T cover image 1404

"Power cuts might seem like a 1970s fad, but they could be on the way back. How can we prevent them happening again?"

E&T videos

TomTom mapping the neighbourhood

E&T jobs

E&T Marketplace

The essential source of engineering products and suppliers.

E&T podcast

Tune into our latest podcast

iTunes logo

Subscribe

Choose the way you would like to access the latest news and developments in your field.

Subscribe to E&T