Just last year, Facebook was the punching bag of mobile. Users hated its mobile app, and investors fumed over the social network’s dismal IPO.
“Facebook is a bad investment,” read one Forbes headline, underlining the widespread doubts that Facebook and its pricey new acquisition Instagram would be able to monetize one of the fastest consumer shifts in recent history: the move from desktops to mobile devices.
Everything changed last week when Facebook revealed jaw-dropping mobile numbers: 41 percent of total ad revenue originated from mobile to the tune of $656 million in a single quarter. “Soon we’ll have more revenue on mobile than desktop,” CEO Mark Zuckerberg said, adding that the company has surpassed one million active advertisers. Facebook counted 819 million mobile monthly active users, and 219 million of them never visit Facebook.com on the desktop. Read more