Facebook crosses billion mark

  • Facebook passed the 1 billion-user mark in September, the 8-year-old social networking site announced on Thursday.

    Facebook, which has endured a tough four months on the stock market following its lukewarm May 18 initial public offering, has admitted that a slowdown in new-user acquisition is expected as its global footprint expands.

    The latest quarter's growth is likely to come in lower in comparison to the previous quarter’s 54 million new users. Around 45 million joined from the start of July, when it had 955 million users, through September 14.

    Meanwhile, in its last earnings report, Facebook said revenue increased by 32 percent to $1.18 billion in the second quarter. However, that marked the slowest rate of quarterly revenue growth since the first quarter of 2011.

    Founded by Mark Zuckerberg in a Harvard dorm in 2004, Facebook took three years to reach 50 million users. By 2010, it had 500 million users.