How Social Media giant lost about $1.7m in less than 1 hour

fuad lawal

September 29, 2015 5:59 AM

One of the safest websites in the world, Facebook, has been down for the third time in one month.

Facebook is categorized along with Google Inc as having one of the most secure web sites on the Internet, which is why it is particularly odd that the company, with a generally outstanding record for web site up-time, has been hit so hard recently.

READ: Unfriending on Facebook is workplace ‘bullying’

The latest trouble occurred a few hours ago when users began noticing the network was slowing to a crawl and "Service Unavailable” and “Sorry, something went wrong” errors messages showed up along with the “Page not found” classic message.

"We’re currently restoring Facebook services that people had trouble accessing earlier today due to a configuration issue. We’re working to bring things back to normal for everyone. We apologize to those who have been inconvenienced," a Facebook spokesperson told the Newsweek.

Facebook outage occurred on September 17 and lasted nearly five minutes. The second outage occurred on September 24 and reportedly lasted 10 minutes. Today’s outage appeared to last nearly one hour, making for an increasingly large damage set and a growing number.

READ: The 'Social Network' did 1 billion users in 24 hours

A one hour outage means a lot in advertising, considering that's where most of his revenue comes from.

Given that the company generated $3.827 billion in advertising revenue in the second quarter, assuming no growth rate in revenue, Facebook is missing out on the potential for a loss of slightly more than $1.7 million in advertising-centric revenue for every hour the website and app are not working.

Now that, that is a lot of money.

fuad lawal