Facebook (NASDAQ: FB) continues to grow despite controversies regarding data management, user privacy, and the recently announced Libra digital asset. According to data provided by Statista, by the end of this year, Facebook could reach 2.5 billion active users per month.
Facebook, the largest social media worldwide, is getting closer to 2.5 billion daily active users (DAU). In the second quarter of this year, the company registered 2.41 billion DAU, 1.64% up from the first quarter of this year, or 4% up comparing it to the last quarter of 2018.
For Facebook to reach 2.5 billion DAU, the company would have to register a DAU increase of 3.56% before the end of this year.
This means that Facebook DAU would reach 32% of the world population, which is currently 7.73 billion. It is worth mentioning that these numbers exclude users from WhatsApp or Instagram, other applications that are owned by Facebook.
Facebook’s DAU continues to grow despite the current controversies around the company. Since 2008, the social media network registered a DAU increase every single quarter.
Regulatory agencies around the world are worried about the growing influence the company has. Indeed, the firm announced in June this year that it is planning to launch a digital currency called Libra.
If the virtual currency is released to the market as expected in the first quarter of the next year, we could see Facebook become the largest financial institution in the world.
Libra is going to be backed by a basket of fiat currencies from different countries. Some of these currencies include the U.S. dollar, the Singapore dollar, the euro, the British pound, and the Japanese yen.
Regulators are trying to understand how to regulate Facebook better and whether the firm should comply with banking regulations.
A few months ago, U.S. President Donald J. Trump wrote on Twitter that if Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all banking regulations, just like other banks.
….Similarly, Facebook Libra’s “virtual currency” will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National…
— Donald J. Trump (@realDonaldTrump) July 12, 2019
Internet Users Statistics 2019
At the moment, internet penetration reached 4.33 billion individuals in the world, according to Hootsuite.
That means that more than 55% of the individuals using the internet use Facebook every single month at least once. However, there are still 3.34 billion individuals that are not yet using the internet.
A few days ago, LearnBonds reported that despite PayPal’s decision to leave the Libra Association, there are more than 1,500 entities ready to participate in Facebook’s new project. Although there are some controversies around Libra, institutions and companies know Facebook could continue growing and expanding its influence in different regions.
In addition to it, Facebook acquired CTRL-labs, a New York startup that allows humans to control computers just by using their brains.
Finally, Facebook purchased an artificial intelligence startup called Servicefriend to create messaging app bots.
The recent acquisitions show the company is all the time analyzing business niches to increase its influence.