The Stories format is used by about 2 million advertisers out of Facebook's total 7 million active advertisers, and the company said it would add more features to make it easier for advertisers to adapt their campaigns. Despite all the unflattering coverage about data leaks, data breaches, poor community moderation, and Facebook-facilitated ethnic cleansing, the company still made a ton of money, bringing in $56 billion in revenue a year ago - up 37 percent from 2017, and beating Wall Street estimates.
"We put most of our energy into security over the past 19 months", Facebook CEO Mark Zuckerberg said on a call with investors. "After the privacy beating Facebook's taken over the previous year, I was skeptical, too".
"This means we're finding ways for video to grow outside of News Feed so it doesn't displace the social interactions that people primarily come to our services for".
The number of employees as of December 31 was 35,587, an increase of 42 per cent year-over-year. He will now serve as a privacy and public policy manager for Facebook.
Facebook delivered stronger-than-expected profits in the most recent quarter, boosting the stock more than 8 percent in after-hours trading.
The company faces demographic challenges as younger users shift to other platforms, seeing Facebook as less cool than it once was. He said the move is "a 2020 thing or beyond".
According to Zuckerberg, the idea is to let people utilise the apps to enhance the experience.
Zuckerberg has consistently defended the social network's business of keeping the service free by targeting ads based on interests, adamant the social network does not sell people's data. "We're going to get to a point soon where people feel like Facebook is about communities as much as it's about your friends and family - where nearly everyone is in a group that is meaningful to them and that community is a central part of their experience".