Facebook has more than 80 million fake users
3 August 2012
In a quarterly filing to the US Securities and Exchange Commission (SEC) Facebook said that about 5% of its 955 million members have duplicate accounts and around 83 million accounts could be fake.
The news sent shares in Facebook below $20 for the first time, though the price climbed back to $20.04 by the end of trading. The social network floated in May at $38 per share.
Facebook is currently valued at around $58 billion, close to half the $104 billion that it reached on the day shares went on sale.
Facebook estimates that 8.7% of accounts - around 83 million - are fake or duplicate accounts. That means Facebook's fake users outnumber the 80 million users for Instagram, the picture sharing site Facebook bought earlier this year.
In March, Facebook said it estimated that up to 6% of user accounts were fakes or duplicates.
The increase has come because Facebook is now also counting mis-classified accounts (2.4%) and undesirable accounts (1.5%) in its total.
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