No social network can match Facebook’s current momentum or broad inter-national customer adoption. It hosts a range of social applications and has been the market leader in social media since April 2008. Currently Facebook has more than 500 million active users, 50% of our active users log on to Facebook in any given day, average user has 130 friends and people spend over 700 billion minutes per month on Facebook. While Facebook does not disclose specific financial information, the company earns money from sponsored advertising, self-serve advertising, and virtual gifts. Microsoft took a 1.6 percent stake in Facebook for $240 million in late 2007, and the two companies continue to work together on syndicated advertising opportunities through Microsoft adcenter. A healthy developer ecosystem has been created around Facebook, although the third-party developer craze was lessened somewhat by a series of restrictions placed on developers after early applications propagated too many messages through user profiles and news feeds.
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