Facebook's monthly and daily active users both increased by 8% to 2.41 billion and 1.59 billion respectively in Q2 2019. Revenue increased 28% year-on-year to $16.6 billion this quarter. Mobile ads made up 94% of the company's ad revenue. 2.1 billion people and 2.7 billion people use one of its services — Facebook, Instagram, WhatsApp, or Messenger — every day and every month respectively. Talking about privacy issues in a call with investors, Zuckerberg reiterated the need for a regulatory framework, saying that "my broader concern is that if that doesn't get put in place, then frustration with the industry I think will continue to grow". He says regulation can be a mix of laws passed, structural rules imposed like with this FTC settlement, self regulation (like around content and speech in the United States). WhatsApp Payments Zuckerberg said that regulatory approval was causing the delay in launch of WhatsApp Payments in India. "The test went better than we even expected" for a product which needs high network effects to be a success. Zuckerberg did not respond to what lessons the company learnt from the beta test in India for other countries. Impact of FTC fine The FTC fine will mean process changes and compliance work, and will change how Facebook runs its business, and how quickly its products come to the market. The company has got a a new chief privacy officer, Michel Protti. Others at Facebook are going to supplement his work, and external hires will be brought in…
Frustration with industry will grow without regulatory framework, says Mark Zuckerberg in Facebook Q2 earnings call
- How many crypto exchanges registered with India’s FIU following government notification? March 21, 2023
- Why is Twitter’s move to withhold accounts amid internet shutdown in Punjab problematic? March 21, 2023
- RTI: No details on how many entities have complied with CERT-In’s cybersecurity directions March 21, 2023
- Flipkart Not Required to Take “Action” on Copyright Complaints Under Platform Regulation Rules: Delhi HC March 21, 2023
- RTI: Indian govt says registration on U-WIN “not compulsory” yet for vaccination, but is the information public? March 21, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...