On-line social networking service, Facebook will start charging its users $2.99 (almost N500) for their new monthly plan according to reports.
Speaking on the monthly fee at a press conference, Facebook founder and CEO, Mark Zuckerberg said: ‘After thinking long and hard about this decision, at the end of the day, we were forced to add this monthly fee.’
‘If we don’t do something about our rising costs now, Facebook could cease to exist in the near future.’
Facebook Spokesman, Paul Horner, also explained the reason for the new monthly fee in an interview with CNN
‘Economic times are tight; the ads on Facebook are not as profitable as we had planned. Our costs are going up as hundreds of thousands of individuals continue to join the site every day, There’s so many pictures of cats, and all of those costs add up, we just can’t foot the bill any longer.’
Facebook was founded on February 4, 2004, by Mark Zuckerberg with his college room-mates and fellow Harvard University students, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes.