By 2020, Facebook wants to become a viable search business and connect hundreds of millions more people through Messenger and WhatsApp. Those services already have 500 million and 700 million users, respectively, and Zuckerberg expects them to be the key to connecting Facebook’s user base for customers who are getting online for the first time.
In a decade, Zuckerberg hopes that Facebook’s Internet.org division will succeed at getting many millions more people connected. The organization has already connected 6 million people who couldn’t previously connect to the Internet.
But in its effort to accomplish all that, Facebook’s costs are exploding. Last quarter, the time that people spent on Facebook grew 10% compared top the prior year, as Facebook’s growing base of users posted, shared, uploaded and watched more than ever on the company’s network.
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Factset: FactSet Research Systems Inc. 2015. All rights reserved.
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