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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.

@anthony256
Published Thu, Jan 31 2013 3:30 AM CST   |   Updated Tue, Nov 3 2020 12:25 PM CST

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.

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

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

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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