Facebook have 2.23 Billion Monthly Active Users. 1.47 Billion are daily active users. 85% of daily active users are outside the US and Canada. 92% are mobile users.

The target audience for Facebook is people between the age 18 and 50. There are more users over 50, then there are below the age of 20.
Just like search engines, facebook determines which pages status updates are most relevant to users.
Facebook users browsing history and their interactions are taking into the algorithm for what ads they get on their page.
As a company you have have facebook boost your ads. You can promote things like a post, a website, a facebook page, a app, a local buisness, and an offer.