San Francisco – Facebook said on Tuesday that more than a million businesses now advertise
at the leading social network.
"I know business owners like these invest their hard-earned money and
time into running their companies," Facebook's Dan Levy said in a blog
post that referred to advertisers such as Singapore's Retail Ministry and
retailer Springwools in Ireland.
"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
A little more than a year after a nightmarish share offering, Facebook still
has its ardent backers and detractors.
The world's biggest social network, which now has more than 1.1 billion
users, has managed to boost its earnings since the initial public offering,
including from its mobile platform, important in countering its critics.
The IPO on 18 May last year sparked a series of crises for Facebook, with
the shares plunging from $38 to as low as $17.73 in September.
Shares closed on Tuesday at $24.21.
In the past year, California-based Facebook has ramped up its advertising
efforts, especially for the mobile market.