Facebook To Begin Charging Users $2.99/Month Starting November 1st

Nobody expected such a news story this week, but it seems that
Facebook will no longer be a free service. Facebook CEO Mark
Zuckerberg has announced at a press conference in Menlo Park,
California that the company is unable to keep up with the costs of
Facebook and a monthly fee for users is inevitable.

Zuckerberg has explained that Facebook is growing with hundreds and
thousands of members signing up each day and the advertisement system
Facebook currently uses is not enough to cover all the costs the
social media giant needs to keep the site running. He also said that
if Facebook continues to remain a free service, there is the
possibility of it having to shut down because of the lack of funding.

"After thinking long and hard about this decision, at the end of the
day, we were forced to add this monthly fee. If we don't do something
about our rising costs now, Facebook could cease to exist in the near
future." - said Mark Zuckerberg. Facebook currently has about 1.317
billion users and if just %75 of those users start paying the $2.99
monthly fee, the yearly profit would be about $3 billion. Astounding.

Reportedly, Paul Horner, Facebook spokesperson, said that there could
be a way to waive the monthly fee for users who don't have the money
to pay. He said that even though Facebook would begin implementing the
new user fee starting November 1st, they don't want to lose their
members just because they can't afford to pay the monthly subscription
fee. He said that users should update their status with the following
statement:I AM POOR FACEBOOK PLEASE WAIVE MY MONTHLY FEE with the
#FacebookMonthlyFee hashtag included.