Facebook reaches 1 billion users

Facebook has attracted 900 million users in less than a decade and made a billion dollars last year. But will Facebook maintain its momentum or suffer the fate of many of its predecessors? John Blackstone reports.

Facebook announced Thursday that the social network has over 1 billion active monthly users.

Chief executive officer Mark Zuckerberg says that the company is going through a bit of a rough patch following its rocky initial public offering.

Zuckerberg updated his Facebook status on Thursday to make the announcement and promote a video to "honor the everyday things that people make to get together and connect."

"We believe that the need to open up and connect is what makes us human. It's what brings us together. It's what brings meaning to our lives," read Zuckerberg's status update.

The company has had a difficult time lately. There were trading glitches the day it went public in May and concerns since then about its revenue potential. It's also facing lawsuits from disgruntled shareholders.

Zuckerberg said in a "Today" show interview Thursday that "we're in a tough cycle now and that doesn't help morale, but people are focused on what they're building."

Facebook filed for its IPO on February 1, with Morgan Stanley as its lead underwriter. The Menlo Park, Calif.-based social network trades under the ticker symbol "FB."