Facebook hits huge milestone

It's a big day for Mark Zuckerberg and the entire Facebook family as they celebrate 10 years since the site went live in a Harvard dorm room.

What started as a social platform restricted to students now connects 1.23 billion monthly users, or about one-sixth of the world's population, making it the world's largest social network.

Along the way Facebook has been involved in a lengthy legal battle between co-founders and embroiled in concerns over privacy, but Zuckerberg remains positive.

"It's been an incredible journey so far, and I'm so grateful to be a part of it," he said in a statement.

The future for the social media giant may be uncertain though. A recent study revealed that 3 million fewer teens were on Facebook than in 2011. Teens are increasingly turning to other apps like Snapchat and Instagram for their networking needs.

Facebook's strategy is focused on mobile for the future to win back the younger audience.

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