Facebook has announced it has broken the one million advertisers barrier on its site.
The milestone is good news for the firm as it looks to continue in its efforts to monetise its offerings in the face of criticism from shareholders and Wall Street.
Only last week, CEO Mark Zuckerberg, came under pressure from shareholders in the firm’s first ever shareholders meeting, with the Facebook head honco facing a barrage of questions on issues from Google+ to the future value of stock.
Confirming the milestone on its news site, Facebook director of small business, Dan Levy, wrote: “I know business owners like these invest their hard earned money and time into running their companies.
“So today, on behalf of everyone at Facebook, I want to say thank you to them and to the over one million businesses like them who are active advertisers.”
The social networking site also claims more than two billion connections between its members and local businesses, with a reported 70% of Facebook users in North America connected to at least one local firm.
Advertising makes around 85% of the Internet giant’s total revenue, with the social networking firm claiming it had seen a revenue growth of 43% in the last quarter.
Around 50% of small businesses using Facebook to promote their products via some form of social media marketing, but only around 16% of these use Facebook ads however.
It was these firms Dan Levy was hoping to encourage when he added: “Most small business owners start off as Facebook users, then migrate to become page owners, and from there migrate to become advertisers.”
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