You're watching...
FBN’s Shibani Joshi on the social-network website’s efforts to deal with fake user accounts.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
-- shares have lost nearly half of their value since the company went public earlier this year 38 dollars a share was offering price.
And now news comes out of numerous.
Fake user accounts that spells more bad -- his provides.
While Shibani Joshi is on none of this story thought it was all positive stories is big Green Day but not this once upon -- not for FaceBook indeed it's been a rough week for Facebook's shareholders Connell and -- again as you know the big part of the growth story for FaceBook is a growing user base.
But -- people been digging into the company's public filings over the last week showing that actually the user base is a lot smaller than we previously estimated.
Because according to this public documents filed FaceBook revealed what percentage of its accounts.
Where fake and they can't make money off of it four point 8% are duplicates 2.4 percent -- classified.
About a percent and a half on -- -- undesirable and we're talking about eight and a half percent.
But this doesn't really give you clear cut number you attached acting you multiply that sends a number of the users that they had 955.
Million.
And you really understand the magnitude of this issue that means 46 million are duplicate.
23 million -- -- classified fourteen million undesirable.
That brings you to a total of 83 million accounts -- FaceBook can't make any.
Money off not a company has acknowledged it that they're gonna continue to monitor this situation.
Though they're having a hard time kind of getting their arms around it saying -- we're continually seeking to improve our ability to identify.
And I duplicate -- false accounts an estimate the total number of such accounts in estimates may be affected by.
Improvements or changes in our methodology.
Meaning their -- trying to work on -- methodology by which state.
Account for these fake accounts it's been a rough ride for FaceBook which fell below twenty bucks a share yesterday.
Lots going on at this one.
And I don't think it's an and anytime -- I would.
Just thinking while you were talking -- thank you Shibani about we haven't seen a company the side of Research in Motion really go from such positive press all the time to.
The office after a small number it's not 9%.
Of their total love the total views -- banks that -- that's a very.
