Facebook Inc suffered its worst growth period at the end of 2019, according to Facebook’s fourth quarter report.
Facebook’s revenue grew at 25 percent and the company expects revenues to slow further in 2020 as the company comes to almost full maturation and is being impacted by privacy regulations worldwide.
“We have experienced some modest impact from these headwinds to date. The majority of the impact lies in front of us,” said Facebook’s chief financial officer David Wehner in a conference call.
Facebook said the greatest growth came from private messaging and disappearing stories in it social media platform.
“Across our services, the greatest growth in how people are communicating continues to come from private messaging, small groups, and disappearing stories where your data doesn’t stick around forever,” said Facebook founder Mark Zuckerberg.
Transparency and fake accounts have been a major issue for Facebook last year. Facebook founder Mark Zuckerberg faced internal dissension at his firm as hundreds of employees signed a letter condemning the founder’s stance on not banning dishonest political ads.
The powerful pushback by employees came after a US government investigation revealed Russian operatives opened fake accounts and used the platform extensively in their misinformation campaigns during the 2016 US Presidential election to elect Donald Trump.
“We’re reaching out to you, the leaders of this company, because we’re worried we’re on track to undo the great strides our product teams have made in integrity over the last two years,” read the letter signed by Facebook employees obtained and published in full by US media last month.
Facebook published data that it had deleted more than 5.4 billion fake accounts last year.
“Over the past two quarters, we have improved our ability to detect and block attempts to create fake, abusive accounts,” said Facebook in its Transparency Report released this week. “We can estimate that every day, we prevent millions of attempts to create fake accounts using these detection systems.”
“Prevalence for fake accounts continues to be estimated at approximately 5 percent of our worldwide monthly active users population on Facebook,” it added.
Facebook has stated that it has a number of ways in detecting fake accounts. One of the more widely used methods is many accounts being created from a single IP address.