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	5	+= Overview =
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7		-==== Overview ====
	7	+Facebook (FB) mission is to give people the power to build community and bring the world closer together.
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9		-The company's mission is to give people the power to build community and bring the world closer together.
	9	+The company's top priority is to build useful and engaging products that enable people to connect and share with friends and family through mobile devices, personal computers, and other surfaces. The company also help people discover and learn about what is going on in the world around them, enable people to share their opinions, ideas, photos and videos, and other activities with audiences ranging from their closest friends to the public at large, and stay connected everywhere by accessing its products, including:{{footnote}}https://fintel.io/doc/sec-fb-facebook-10k-2018-february-01-17946{{/footnote}}
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11		-The company's top priority is to build useful and engaging products that enable people to connect and share with friends and family through mobile devices, personal computers, and other surfaces. The company also help people discover and learn about what is going on in the world around them, enable people to share their opinions, ideas, photos and videos, and other activities with audiences ranging from their closest friends to the public at large, and stay connected everywhere by accessing its products, including:
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13	13	* Facebook enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers. There are a number of different ways to engage with people on Facebook, the most important of which is News Feed which displays an algorithmically-ranked series of stories and advertisements individualized for each person.
14	14	* Instagram. Instagram is a community for sharing visual stories through photos, videos, and direct messages. Instagram is also a place for people to stay connected with the interests and communities that they care about.
15	15	* Messenger. Messenger is a messaging application that makes it easy for people to connect with other people, groups and businesses across a variety of platforms and devices.
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35	35	As the company introduce or acquire new products, as its existing products evolve, or as other companies introduce new products and services, the company may become subject to additional competition.
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37		-==== Technology ====
	35	+= Technology =
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39	39	The company's product development philosophy is centered on continuous innovation in creating and improving products that are social by design, which means that its products are designed to place people and their social interactions at the core of the product experience. As its user base grows, and the level of engagement from the people who use its products continues to increase, including with video, its computing needs continue to expand. The company make significant investments in technology both to improve its existing products and services and to develop new ones, as well as for its marketers and developers. Facebook is also investing in protecting the security and integrity of its platform by investing in both people and technology to strengthen its systems against abuse.
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41	41	The company's technology investments included research and development expenses of $7.75 billion, $5.92 billion and $4.82 billion in 2017, 2016 and 2015, respectively. For information about its research and development expenses, see Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations—Results of Operations—Research and development" of this Annual Report on Form 10-K.
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43		-==== Sales and Operations ====
	41	+= Sales and Operations =
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45	45	The majority of its marketers use its self-service ad platform to launch and manage their advertising campaigns. The company also have a global sales force that is focused on attracting and retaining advertisers and providing support to them throughout the stages of the marketing cycle from pre-purchase decision-making to real-time optimizations to post-campaign analytics. The company work directly with these advertisers, through traditional advertising agencies, and with an ecosystem of specialized agencies and partners. The company currently operate six support offices and more than 40 sales offices around the globe. The company also invest in and rely on self-service tools to provide direct customer support to its users and partners.
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47		-==== Marketing ====
	45	+= Marketing =
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49	49	To date, its communities have grown organically with people inviting their friends to connect with them, supported by internal efforts to stimulate awareness and interest. In addition, Facebook has invested and will continue to invest in marketing its products and services to build its brand, grow its user base, and increase engagement around the world. The company leverage the utility of its products and its social distribution channels as its most effective marketing tools.
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51		-==== Intellectual Property ====
	49	+= Intellectual Property =
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53	53	To establish and protect its proprietary rights, the company rely on a combination of patents, trademarks, copyrights, trade secrets, including know-how, license agreements, confidentiality procedures, non-disclosure agreements with third parties, employee disclosure and invention assignment agreements, and other contractual rights. In addition, to further protect its proprietary rights, from time to time Facebook has purchased patents and patent applications from third parties. The company do not believe that its proprietary technology is dependent on any single patent or copyright or groups of related patents or copyrights. The company believe the duration of its patents is adequate relative to the expected lives of its products.
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55		-==== Government Regulation ====
	53	+= Government Regulation =
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57	57	Facebook is subject to a number of U.S. federal and state and foreign laws and regulations that affect companies conducting business on the Internet. Many of these laws and regulations are still evolving and being tested in courts, and could be interpreted in ways that could harm its business. These may involve user privacy, data protection and personal information, rights of publicity, content, intellectual property, advertising, marketing, distribution, data security, data retention and deletion, electronic contracts and other communications, competition, protection of minors, consumer protection, telecommunications, product liability, taxation, economic or other trade prohibitions or sanctions, securities law compliance, and online payment services. In particular, Facebook is subject to federal, state, and foreign laws regarding privacy and protection of people's data. Foreign data protection, privacy, content, competition, and other laws and regulations can be more restrictive than those in the United States. U.S. federal and state and foreign laws and regulations, which in some cases can be enforced by private parties in addition to government entities, are constantly evolving and can be subject to significant change. As a result, the application, interpretation, and enforcement of these laws and regulations are often uncertain, particularly in the new and rapidly evolving industry in which the company operate, and may be interpreted and applied inconsistently from country to country and inconsistently with its current policies and practices.
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63	63	Various laws and regulations in the United States and abroad, such as the U.S. Bank Secrecy Act, the Dodd-Frank Act, the USA PATRIOT Act, and the Credit CARD Act, impose certain anti-money laundering requirements on companies that are financial institutions or that provide financial products and services. Under these laws and regulations, financial institutions are broadly defined to include money services businesses such as money transmitters, check cashers, and sellers or issuers of stored value or prepaid access products. Requirements imposed on financial institutions under these laws include customer identification and verification programs, record retention policies and procedures, and transaction reporting. To increase flexibility in how its online payments infrastructure (Payments) may evolve and to mitigate regulatory uncertainty, Facebook has received certain money transmitter licenses in the United States and an Electronic Money (E-Money) license that allows it to conduct certain regulated payment activities in the participating member countries of the European Economic Area, which will generally require it to demonstrate compliance with many domestic and foreign laws relating to money transmission, gift cards and other prepaid access instruments, electronic funds transfers, anti-money laundering, charitable fundraising, counter-terrorist financing, gambling, banking and lending, financial privacy and data security, and import and export restrictions.
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65		-==== Employees ====
	63	+= Employees =
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67	67	As of December 31, 2017, the company had 25,105 employees.
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69		-==== Executive Overview of Full Year 2017 Results ====
	67	+= Executive Overview of Full Year 2017 Results =
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71	71	The company's key user metrics and financial results for 2017 are as follows:
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75	75	* Daily active users (DAUs) were 1.40 billion on average for December 2017, an increase of 14% year-over-year.
76	76	* Monthly active users (MAUs) were 2.13 billion as of December 31, 2017, an increase of 14% year-over-year.
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78		-==== Financial results: ====
	76	+== Financial results: ==
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80	80	* Revenue was $40.65 billion, up 47% year-over-year, and ad revenue was $39.94 billion, up 49% year-over-year.
81	81	* Total costs and expenses were $20.45 billion.
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121	121	For 2017, worldwide ARPU was $20.21, an increase of 26% from 2016. Over this period, ARPU increased by 41% in Europe, 36% in United States & Canada, 33% in Rest of World, and 22% in Asia-Pacific. In addition, user growth was more rapid in geographies with relatively lower ARPU, such as Asia-Pacific and Rest of World. The company expect that user growth in the future will be primarily concentrated in those regions where ARPU is relatively lower, such that worldwide ARPU may continue to increase at a slower rate relative to ARPU in any geographic region, or potentially decrease even if ARPU increases in each geographic region.
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	121	+= References =
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	123	+{{putFootnotes/}}