Since 2012 Facebook has kept growing to its current 1.19 billion users, and it has never had an overall decline in user count, the report said.

"The report that Princeton put out is utter nonsense," a Facebook spokesperson was quoted as saying.

"While we are concerned for Princeton University, we are even more concerned about the fate of the planet -- Google Trends for "air" have also been declining steadily, and our projections show that by the year 2060 there will be no air left," Develin said.

"We don't really think Princeton or the world's air supply is going anywhere soon. We love Princeton (and air). As data scientists, we wanted to give a fun reminder that not all research is created equal - and some methods of analysis lead to pretty crazy conclusions," said Develin.

Read Also: Bangalore Gets First Ever Free Wi-Fi Zones In India and Accenture Technology Vision 2014: The 6 IT Trends Driving Digital Power Shift