The last official tally of Facebook users was 955 million. Employees have become giddy in expectation of reaching the one billion mark any day now.
But, they might want to hold off tossing confetti, because the momentous occasion will also shine a bright light on the social network's shortcoming.
No matter how many users Facebook acquires, if it can't sell anything, the landmark number is useless.
As Owen Thomas of Business Insider wrote, "Bottom line: One billion users isn't cool. You know what's cool? Two billion."
Facebook Sales Estimates Slashed
The failure to monetize that many subscribers is a shame because Facebook's massive user base is an advertiser's dream if effective - but there have been no signs of future revenue growth.
That's why market research firm EMarketer Inc. recently slashed its projections for the Menlo Park, CA-based company from $6.1 billion in annual sales to $5.04 billion. Facebook continues to struggle for advertising growth, in particular the fast growing mobile market.
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An increasing number of Facebook users are now accessing their accounts via smartphones and other mobile devices, an area where Facebook collects a great deal less in ad revenue than it does on desktop access.
Facebook enjoyed an 88% revenue increase in 2011. EMarketer estimates Facebook revenue will rise only 36% this year and 31% in 2013.