Despite the popular opinion of how Facebook is losing the social network battle, it continues to grow in profits and seems to be dominating the world with its’ powerful, fast-growing global user base. The young billionaire CEO and co-founder of Facebook, Mark Zuckerberg is now aiming to pocket a couple more billions to his funds by selling 70 million Facebook shares valued at about $3.85 billion, according to Wall Street Journal. The report also shows that about $1 billion of that cash will directly go to Zuckerberg’s pocket. However, the 29-year-old tech genius, (now turned philanthropist, apparently) hopes to donate that amount to charity.
The timing has never been great for the company to start selling stock as a new forecast by market research firm eMarketer has ranked Facebook as the “second-largest digital ad seller in the US.” Thanks to the rapid growth in mobile use, Facebook will score 7.4% of net US digital ad dollars for 2013, far behind Google but way ahead of Microsoft and Yahoo.
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The future looks bright for the world’s largest social network. Let’s wait and see what this young billionaire, genius has in store for us in 2014. I think I can see another user interface change coming to Facebook next year and of course, more ways to show ads.
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