Facebook 1 Billion Users Mark Hit; Mark Zuckerburg Admits Company's Struggling Following IPO
Facebook has hit the pinnacle of their success, reaching the 1 billion users mark for the social media site.
The company's Chief Executive, Mark Zuckerberg, updated his Facebook status on Thursday, Oct. 4, saying that the site has more than 1 billion active users each month.
"If you're reading this: thank you for giving me and my little team the honor of serving you. Helping a billion people connect is amazing, humbling and by far the thing I am most proud of in my life," he said. "I am committed to working every day to make Facebook better for you, and hopefully together one day we will be able to connect the rest of the world too."
(Note: Zuckerberg told Bloomberg Business Week that the 1 billion user number is based on an estimate, not an actual count)
However, Zuckerburg is still stating that the company is struggling following their not so successful initial public offering.
Erie-Times News reported that the California-based company is facing some difficulties with shareholders and their place in the market. There were reportedly some trading glitches the day Facebook went public in May and since then, there have been concerns about how much revenue it will bring in, the news source stated. Zuckerberg's company is also facing lawsuits from unsatisfied shareholders.
The company's CEO stated that he and his company has been worked to boost the confidence of investors following a not so great IPO.
On the same day that he announed the 1 billion user mark for Facebook, Zuckerberg had a "Today" show interview where he admitted that the company "in a tough cycle now and that doesn't help morale, but people are focused on what they're building.
Facebook was founded in 2004 in Zuckerberg's Harvard University dorm room.
