Facebook’s growth does not appear to be slowing by any means. Appearing for an interview on the Today show in a bold red tie earlier today, Mark Zuckerberg told Matt Lauer that the site is growing by more than 5 million users a week globally and more than one million a week in the United States. This is unprecedented growth for the social network which now attracts over 10 percent of the global internet population to its site.
While the company has yet to come up with its breakthrough monetization model, it’s clear that its growth trumps all other social networks currently. As Eric Eldon highlights Mark Zuckerberg, “says Facebook is differentiating itself through things like easy photo-sharing (it has more than a billion photos shared per month) and privacy controls so people can make sure those who are most special in their lives can see certain information others can’t.”
While the growth continues to be phenomenal, I recently articulated the risk that Twitter presents to the immensely dominant social network. It’s hard to dismiss the rapid growth that Facebook is experiencing though and part of the core value Facebook presents may be its ability to stay in touch with our closest friends as the Economist highlighted yesterday.
At the beginning of the year, I estimated that Facebook would surpass 300 million users by the end of the year, and with 200 million users right around the corner, 300 million may be underestimated. With the numbers stated by Mark Zuckerberg it’s hard to avoid how dominant of a force Facebook is rapidly becoming. All I can say at this point is: wow.