Facebook to charge $2.99 dollars monthly fee starting November

It seems facebook will no longer be a free service. Facebook CEO Mark Zukerberg  has announced at a press conference in Menlo Park, Carlifornia that the company is unable to keep up with the costs of Facebook and a monthly fee for users is inevitable.

Zukerberg has explained that Facebook is growing with  hundreds and  thousands of members signing up each day and the advertisement system Facebook currently uses is not enough to cover all the cost the social media giants needs to keep the site running. He also continued that if Facebook continue to  remain  free service, there is the possibility of  it having to shut down because of lack of funding.

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 cost, Facebook could cease to exist in the near future." - said Mark Zukerberg.

Facebook currently has about 1.317 billion users and if just 75% of those users starts paying the $2.99 monthly the yearly profit would be about 3 billion.  Astounding.

Reportedly Paul Horner, Facebook spokesperson said, there could be a way to waive the monthly fees for users who do not have the money to pay.  He said that even though Facebook will begin  implementing the new user fee starting November 1st, they don't want to loose their members just because they cant afford to pay the monthly subscription fee.  He said users should update their status with the following statement- I AM POOR FACEBOOK PLEASE WAIVE MY MONTHLY FEE with the FacebookmonthlyFee hashtag included.

It seems that Facebook will no longer be a free service. Facebook CEO Mark Zuckerberg has announced at a press conference in Menlo Park, California that the company is unable to keep up with the costs of Facebook and a monthly fee for users is inevitable.

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