According to the report published by Meta, Facebook has crossed 2 billion daily active users. The social media company was able to add an additional 16 million users in Q4 2022. Facebook’s CEO Mark Zuckerberg, in a statement. “Our community continues to grow and I’m pleased with the strong engagement across our apps. Facebook just reached the milestone of 2 billion daily active users.”
Facebook Milestone: Meta Attributed the Progress of Crossing 2 Billion Users to Reels and AI Discovery Engine
Mark Zuckerberg talks about the roles of trending short videos, Reels, and Meta’s progress with its use of AI. He said, “The progress we’re making on our AI discovery engine and Reels are major drivers of this. Beyond this, our management theme for 2023 is the ‘Year of Efficiency’ and we’re focused on becoming a stronger and more nimble organization.”
Also, this is not the first time the Meta platform has crossed 2 billion active users; it had previously happened with Whatsapp when the instant messaging app crossed the 2 billion users mark, suggesting the ever-growing revenue stream of Meta products. The development came after the company announced layoffs and restrictions within the Meta ecosystem in response to the economic slowdown.
Generative AI to Be Meta’s Top Priority
With AI taking over the world, Meta has also decided to prioritize efficiency and cut back on projects that are not performing. He said, “We’re going to be more proactive about cutting projects that aren’t performing or may no longer be as crucial. Moreover, the generative AI would be a priority for Meta in the year ahead.” On the other hand, Meta continues to lose money on its metaverse project. Meta reported that the country lost $4.3 billion in the fourth quarter of 2022, and nearly $14 billion for the whole year.
Also read: Tesla Overtakes Meta to Become the Worst-performing Valuable Tech Stock of 2022