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Facebook to concentrate this year on money-making projects, expenses expected to grow by 50%

Facebook to grow headcount in 2013 so they can quickly develop money-making products

| Social Networking News | Posted: Jan 31, 2013 9:30 am

Social networking leader Facebook had their earnings call yesterday, where CEO Mark Zuckerberg talked about the company's further investment into product development. This will be a huge push in terms of creating products that make the social networking site money, and lots of it.

 

TweakTown image news/2/8/28230_01_facebook_to_concentrate_this_year_on_money_making_projects_expenses_expected_to_grow_by_50.jpg

 

Zuckerberg said during the earnings call that Facebook will grow their headcount quickly this year in product development. This quick expansion will cull some of their profits, but they're really pushing their revenue earning products like graph search, Gifts and others. These products could eventually be the strongest parts of Facebook, so they're getting much needed attention.

 

Just last year alone, Facebook added 1,419 employees which pushed them to a total of 4,619 employees across the world - representing a 44% jump. Facebook will continue adding staff to their payroll, concentrating on engineering and jobs associated with product development. Facebook CFO David Ebersman revealed during the earnings call that Facebook's expenses would expand by 50% this year, which is mostly due to hiring new staff.

NEWS SOURCE
Techcrunch.com

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