Facebook Inc debuted an overhaul of its core social network on Tuesday, taking i...
SAN JOSE, Calif. - Facebook Inc debuted an overhaul of its core social network on Tuesday, taking its first concrete steps to refashion itself into a private messaging and e-commerce company as it tries to move past scandals while tapping new revenue sources.
“As the world gets bigger and more connected, we need that sense of intimacy more than ever. That’s why I believe that the future is private. This is the next chapter for our services,” said Zuckerberg, speaking at Facebook’s annual F8 conference, where the company gives developers a peek at product releases.
The social media company is now working on “LightSpeed” in order to make its Messenger app smaller and faster. “I know that we don’t exactly have the strongest reputation on privacy right now, to put it lightly,” Zuckerberg said. But the company is no longer adding many new users in the United States and Europe, its most lucrative markets, and it must find additional sources of revenue if it is to sustain growth.
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