Facebook
People are silhouetted as they pose with mobile devices in front of a screen projected with a Facebook logo, in this picture illustration taken in Zenica October 29, 2014. Facebook Inc warned on Tuesday of a dramatic increase in spending in 2015 and projected a slowdown in revenue growth this quarter, slicing a tenth off its market value. Facebook shares fell 7.7 percent in premarket trading the day after the social network announced an increase in spending in 2015 and projected a slowdown in revenue growth this quarter. REUTERS/Dado Ruvic

For the first time in the history of Facebook, one billion people used the site on a single day. The social networking site has become an integral part of the lives of people for over a decade.

Founder and CEO Mark Zuckerberg revealed that Facebook has achieved an “important milestone” on Monday 24 Aug., as one in seven people on earth connected with their friends and family through the site. He also mentioned that this achievement is something “different” and outshines all the financials and calculations.

“I’m so proud of our community for the progress we've made. Our community stands for giving every person a voice, for promoting understanding and for including everyone in the opportunities of our modern world,” said Zuckerberg in a post on his Facebook page.

“Thank you for being part of our community and for everything you've done to help us reach this milestone,” concluded Zuckerberg, with the hope to accomplish more.

Facebook, the $264 billion company was established in February 2004. The company has since has been continuously connecting communities globally and experienced magnificent growth in user numbers in the last 11 years. Now Facebook has almost 1.49 billion monthly active users (MAU) around the world, an increase of 13 percent year-over-year.

This means half of the three billion people who have access to internet log on to their Facebook account at least once a month. The company said that its mobile MAUs were 1.31 billion as of June 30 as it announced its quarterly results in July.

Such huge figures helped Facebook’s revenues jump by 39 percent in the second quarter ending June 30. Its mobile advertising revenue represented approximately 76 percent of advertising revenue for the second quarter of 2015, which is almost 62 percent up from earnings in the second quarter of 2014.

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