It goes without saying that Facebook is the most popular social networking website in the world. Users of the social media platform can interact, share photos, videos, start a discussion on any topic under the sun and even share links. Businesses, both big timers and the small fish, can advertise on Facebook for as less as $5 dollars. The social media platform has had its fair share of scandals but that has not affected the profits it continues to register.
Profits
Talking of profits. Facebook profits grew from $4.27bn in 2017 to $6.88bn in 2018. Revenue went up by a staggering 30% to $16.64bn and these profits will only go up if you factor in the other apps associated with the company-that is Instagram, Messenger and WhatsApp.
Number of Users
According to Facebook, the company has 2.38 billion plus monthly active users (MAU) as of March 31,2019. This is a steady increase from 2.32 billion MAUs the company registered for Q4, 2018. The social media network has 1.56 billion daily active users for March 2019. The Social Skinny reports that every 60 seconds on Facebook; half a million comments are posted, more than a quarter million statuses updated and just above 100,000 photos uploaded.
Reviewed wages of US Facebook contract workers
The company that was founded in 2004 by Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes has grown to levels probably the innovators never expected. The largest social network in the world rakes in billions of dollars in profits and what a better way to appreciate their workers than raising their wages. Increase in wages is for contract workers who are employed through third party contractors like cooks, cleaners, security guards or drivers.
Those in San Francisco Bay Area, New York and Washington D.C. will be paid a minimum wage of $20 per hour while those in Seattle will do with $18 per hour from $15 per hour.
Content reviewers will pocket $22 per hour in Bay Area, New York City and Washington, D.C., $20 per hour in Seattle and $18 per hour in all other metro areas in the United States.
Facebook human resource vice president said of the increment:
“Because wages so directly affect people’s lives, we obviously have a deep responsibility to look after all the people who work for Facebook – with us as a partner or with us directly,”……….. “$15 per hour in some of the areas where we operate no longer meets the cost of living.” Next
