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Facebook Home Hits 1 Million Downloads

By    |   Tuesday, 14 May 2013 01:58 PM

Facebook Home, the cell phone home screen available for download on Android phones, has reached 1 million downloads about a month after being released, Mashable reports.

Facebook told reporters Thursday that Home had been downloaded "just about" 1 million times. On Sunday, Google's Play Store showed Facebook Home as having been installed between 1 million and 5 million times.

Still, demand for Facebook Home is slipping. It took the application only 10 days to garner 500,000 downloads, but about twice that long to gain another 500,000 downloads.

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Facebook Home currently sits outside the top 100 Android apps downloaded in every country where it's available, according to App Annie, which tracks app store rankings. Facebook Home barely made it in the U.S. top 50 at its peak and doesn't even rank in the top 300 now.

"Many developers would be ecstatic to have their app downloaded 1 million times," writes Mashable's Seth Fiegerman. "But for Facebook, that represents a drop in the bucket considering it has more than 750 million active monthly mobile users."

However, Morningstar analyst Rick Summer is impressed with Facebook's mobile performance. He pegs fair value for the company's stock at $34. It closed at $26.82 Monday.

"The company's growth in mobile usage has been impressive, particularly considering that Facebook was very slow to market with a downloadable application," Summer writes on Morningstar.com.

"The company's mobile usage is skyrocketing, growing more than 54 percent annually to more than 750 million monthly users in the first quarter of 2013."

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Facebook Home, the cell phone home screen available for download on Android phones, has reached 1 million downloads about a month after being released, Mashable reports.
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2013-58-14
Tuesday, 14 May 2013 01:58 PM
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