Facebook is leaning into its growth on mobile devices by unveiling its "Paper" news reader application for iPhones on Feb. 3, which shows full screen designs for News Feed content like video, photos and posts that can be tilted and turned like, well, pages of paper.
The new application, which resembles some features of news reader widget Flipboard, will so far only be available for iOS, starting the day before Facebook celebrates its 10th birthday on Feb. 4.
For the first time ever mobile use is the majority source of Facebook's advertising revenue for a total of 53 percent, the company reported on Wednesday in its fourth quarter earnings report. Facebook reported $2.585 billion in revenue during its fourth quarter of 2013, up from $1.585 billion for the fourth quarter of 2012. The company profited $523 million during its fourth quarter, an increase from a $64 million profit during the same quarter in 2012.
The company's user base also grew during 2013 by 172 million people to 1.23 billion users per month, and grew an average 139 million daily users to a total of 757 million people per day, Facebook CEO Mark Zuckerberg said during a conference call.
"If 2012 was the year where we turned our core product into a mobile product, then 2013 was the year where we turned our business into a mobile business," Zuckerberg said. "I expect 2014 will be the year where we begin to deliver new and engaging types of mobile experiences."
Facebook's addition of new features including Instagram Video in 2013 helped it increase user engagement for approximately 6 billion 'likes,' up 59 percent from 3.8 billion likes in January 2013. The 'like' responses help determine what content and advertising a user will see on their News Feed.
The boom in Facebook's mobile advertising tailored to match the behavior of its users is part of the general growth of e-commerce, especially during the holiday shopping season, Facebook's Chief Operating Officer Sheryl Sandberg said during the conference call.
"This is marketing where you are, for who you are," Sandberg said.