While Facebook’s revenue is reportedly going to surpass $500 million this year, it’s still a fraction of the revenue from large, publicly traded tech giants. For example Google generated over $21.7 billion last year, a large portion of which came from their self-serve advertising platform. Facebook has a long way to go before they hit $21.7 billion but if a new report published by eMarketer is correct, Facebook should have a good shot at getting there.
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Facebook users know how addictive the site is but how has the company been able to continuously attract new users? The primary way Facebook has been so effective at growing is that they enable users to import all of their contacts via email. It’s become the standard tool for instantaneous growth however many companies fail to get it right. Facebook however has mastered the art of the “viral loop” and there is a lot to be learned from the company’s success.
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Want to scale a system which can handle over 300 million monthly users, approximately half of which are logging in daily? It’s not an easy task however Facebook has managed to pull off an impressive feat but as many users are noticing: not everything is working as it should. The primary problems exist for the minority, yet rapidly growing population, of hyper-connected individuals who have thousands of contacts. So what’s going wrong?
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According to new data published by Nielsen Online yesterday, Facebook is currently the largest social networking site in the United States based on the amount of time spent online. Over the past year, the time spent on Facebook has increased 700 percent in contrast to MySpace, Facebook’s largest competitor, where total time spent has decreased 31 percent. Not surprisingly, Twitter managed to post impressive growth of 3,712 percent.
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Facebook continues to go on a tear and according to our own statistics compiled with data provided by Facebook during interviews a couple months ago, we now estimate Facebook’s total active user base to have surpassed 225 million. The company actually should have surpassed 225 million a couple of weeks ago but we’ve accounted for the possibility of a slight slow down in growth, although the company continues to attract millions of new users weekly.
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Facebook has confirmed that they hit 200 million users today which is a bit behind considering they should have hit 200 million over a week ago as we previously wrote. So why has Facebook decided to wait until now to announce the 200 million mark? My guess is that it was due to their communications department which didn’t want to reduce the amount of press coverage due to preemptive articles about the company’s growth.
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According to public statistics and statements made by Facebook (combined with our own estimates), the company has surpassed 190 million users and should surpass 200 million users before the end of the month. At the end of February, Mark Zuckerberg told MSNBC that the company was growing by over 700,000 users a day, including 1 million a week in the United States alone. The company also announced that they surpassed 175 million users back on February 13th.
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Facebook’s growth does not appear to be slowing by any means. Appearing for an interview on the Today show in a bold red tie earlier today, Mark Zuckerberg told Matt Lauer that the site is growing by more than 5 million users a week globally and more than one million a week in the United States. This is unprecedented growth for the social network which now attracts over 10 percent of the global internet population to its site.
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Facebook has just updated their statistics page which now reports they have 175 million users. This means Facebook has increased its new user acquisition rate from 450,000 users a day to over 480,000 users a day. As Facebook expands, it continues to increase its growth rate suggesting that the company will easily surpass 300 million by the end of the year if everything goes well.
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Earlier this month we wrote about Facebook surpassing 150 million users. If the growth has in fact continued at the same pace, if not a greater pace, the company should register their 160 millionth user today. Alexa suggests that the company’s growth rate has in fact been increasing which means the company could have surpassed 160 million users prior to today.
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