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5	5	= Overview =
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7		-Facebook (FB) mission is to give people the power to build community and bring the world closer together.
	7	+The company's mission is to give people the power to build community and bring the world closer together.
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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}}
	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:
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11	11	* 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.
12	12	* 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.
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19	19	Facebook is also investing in a number of longer-term initiatives, such as connectivity efforts, artificial intelligence research, and augmented and virtual reality, to develop technologies that the company believe will help it better serve its communities and pursue its mission to give people the power to build community and bring the world closer together.
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21		-= Competition =
	21	+==== Competition ====
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23	23	The company's business is characterized by innovation, rapid change, and disruptive technologies. The company compete with companies that sell advertising, as well as with companies that provide social, media, and communication products and services that are designed to engage users on mobile devices and online. The company face significant competition in every aspect of its business, including from companies that facilitate communication and the sharing of content and information, companies that enable marketers to display advertising, companies that distribute video and other forms of media content, and companies that provide development platforms for applications developers. The company compete to attract, engage, and retain people who use its products, to attract and retain marketers, and to attract and retain developers to build compelling mobile and web applications that integrate with its products.
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33	33	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	37	= 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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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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123		-= References =
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