BREAKING NEWS

Facebook hits 2 billion user mark

By REUTERS

JUNE 27, 2017 20:50

Facebook Inc Chief Executive Mark Zuckerberg said on Tuesday that the social network had 2 billion monthly users.

The company had 1.94 billion people using its service monthly as of March 31, an increase of 17 percent from a year earlier.

The social network's user base dwarfs that of similar companies. Twitter Inc reported in April monthly active users of 328 million, while Snap Inc's Snapchat had 166 million daily users in the first quarter ended March 31.

Facebook is looking to grow its massive user base, especially in developing nations where the service currently has smaller penetration rates.

The company has been building up its services by increasing focus on livestreaming and has been ramping up its camera features.

Facebook has also been developing technology known as augmented reality, a mix of the real and digital worlds.

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