Wonder years ahead: Facebook turns 10

[arefin]

More people are getting hooked to the social networking platform -- Facebook, which completes 10 years today. According to a recent study by Pew Research Centre, the social network is used by 57 percent of adults and over 70 percent of teenagers. The report says that 64 percent of those users spend time on the platform every day, up from 51 percent in 2010. 

Started by Mark Zuckerberg on February 4, 2004, from Harvard University, the site was conceived to connect students, and let them build an online identity for themselves, said a Computer World report. According to the company’s latest quarterly report, the profits stood at USD 523 million, up USD 64 million from the year-ago period. The revenue grew 63 percent to USD 2.59 billion.
According to Wealth-X, a global wealth intelligence and prospecting company, Zuckerberg’s net worth increased USD 3.1 billion to USD 29.7 billion after the company announced its 2013 fourth quarter earnings on January 30. “The 29-year-old Zuckerberg’s current fortune equates to more than USD 1 billion for every year he has lived,” said the report.

At present, Facebook has 1.23 billion monthly active users and 757 million daily active users. Zuckerberg, who turns 30 in May, at an industry conference in Silicon Valley last week had said that he never envisioned that Facebook will become ‘so large or influential’ at the start. “It didn’t even occur to me that it could be us,” Zuckerberg had said. Other social networking sites like Pinterest, Twitter and SnapChat had sparked concerns that Facebook may be losing its original teen base. A recent Princeton University study said that Facebook may lose around 80 percent of its users over the next three years. The company challenged the claim.

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