- Founded 2004
- 2.32 billion monthly users worldwide
- Company net worth $138 billion
After 15 years Facebook is still one of the largest social medias around, however how long is it to stay at the top? With the recent privacy and hacking scandals is the younger generation more likely to go to competitors Instagram or Twitter? What does the future hold for Facebook?
It has over 2.23 billion users worldwide and each second it gains 5 new users. It is largely used as a social/personal tool to connect friends and family across the globe. However it is now also used as a tool for businesses to connect with potential consumers across the network. Especially with small local businesses. There are over 80 million businesses using Facebook, 6 million of these advertise of Facebook as well. This the third visited site in the world beside Google and Youtube respectively.
In the future Facebook needs to gain more of interest with young people in order to maintain relevance. Although Facebook is currently the most popular form of social media the majority of its users are over 30. Although this may be okay in the short term eventually it may quickly become irrelevant if there is no engagement with the younger generation.
Messenger has now been developed into its own app and it the most popular messaging app with over 1.3 billion users. This was first a built into feature within the original app however it quickly expanded and has now developed into its own entity with unique features. Lots of businesses use it as a form of customer service.