Facebook Inc (FB) Finds Growth in Africa

0

Facebook Inc (NASDAQ:FB) is arguably the largest Internet company in the world in terms of users and it continues to add more. Africa remains an unchartered territory for most business, owing to the complexities of the land, but not for Facebook Inc (NASDAQ:FB). The company has users across Africa and sees immense growth potential in the continent in the future. A recent article on Reuters pointed out the growth that Facebook Inc (NASDAQ:FB) has witnessed in Africa and its future plans for the continent.

facebook fb meeting social personal group human apps

According to the article, 1 in 10 residents of Africa logs on to the world’s largest social networking site every month. In terms of actual number of users, that number translates to nearly 100 million users who use Facebook Inc (NASDAQ:FB) every month.

Africa as a continent has relatively very low internet and smartphone users. Still, 80% of the users who access Facebook Inc (NASDAQ:FB), do so through their smartphones as it’s even more rare to find other types of computing devices in the continent. In a separate study that Ericsson conducted earlier this year, it found that 70% of Facebook users in Africa, access the website through their smartphone, compared to only 6% who do so through desktop computers.

In its last quarterly result, Facebook Inc (NASDAQ:FB) declared that mobile advertising constituted 62% of its overall advertising revenue, backed by a 150% year-on-year growth in mobile advertising revenue. It was also revealed in the article that Facebook was considering opening an office in Africa in 2015 and it’s going to put in more resources in the continent to figure out how African users are using its product. Facebook Inc (NASDAQ:FB) currently has over 1.3 billion active users and 1.5 million advertisers globally.

 As of June 30, 2014, Philippe Laffont‘s Coatue Capital Management owns over 5.8 million shares in Facebook Inc (NASDAQ:FB), making it one of the largest shareholders in the company.

Disclosure: None

Suggested Articles:

Highest Suicide Rates By Profession

Largest Financial Services Companies By Revenue

Share.