Thanks to visit codestin.com
Credit goes to www.scribd.com

Scribd
Upload
49 views2 pages

Microsoft Word Document

Facebook was founded in 2004 by Mark Zuckerberg and others at Harvard University. It launched as "Thefacebook" and was initially only available to Harvard students. Within a month, 50% of Harvard students had signed up. Facebook grew rapidly and by the end of 2004 was open to universities across North America. Facebook later faced lawsuits from former collaborators of Zuckerberg who alleged he stole their idea. As of 2019, Facebook has over 2 billion monthly active users and generates most of its $70 billion annual revenue from digital advertising.

Uploaded by

hellcat
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
49 views2 pages

Microsoft Word Document

Facebook was founded in 2004 by Mark Zuckerberg and others at Harvard University. It launched as "Thefacebook" and was initially only available to Harvard students. Within a month, 50% of Harvard students had signed up. Facebook grew rapidly and by the end of 2004 was open to universities across North America. Facebook later faced lawsuits from former collaborators of Zuckerberg who alleged he stole their idea. As of 2019, Facebook has over 2 billion monthly active users and generates most of its $70 billion annual revenue from digital advertising.

Uploaded by

hellcat
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

FACEBOOK : From BASIC to GLOBAL GIANT

WHAT IS FACEBOOK?

For sure all of us know what is facebook and moreover, most of us use facebook daily, but do we know
how it was created and what is behind the “home page” of your own facebook account?

Facebook, American company offering online social


networking services. Facebook was founded in 2004 by Mark
Zuckerberg, Eduardo Saverin, Dustin Moskovitz, and Chris Hughes,
all of whom were students at Harvard University. Facebook became
the largest social network in the world, with more than one billion
users as of 2012, and about half that number were using Facebook
every day. The company’s headquarters are in Menlo Park, California.
HARVARD AND FACEMASH

Zukerberg attracts his first big controversy in October, 2003. He


creates and published Facemash, a website that lets Harvard students
judge the attractiveness of each other to create rankings (similar to
the Hot or Not site that launched in 2000). As he didn’t actually get
permission to use student photos, unsurprisingly many were not happy
with his work.

Within a few hours the site had seen 22k photo views, but within a few
days it was shut down. He was hauled in front of the Harvard
Administration Board. With the risk of expulsion on the table, the
board finally decided to let him stay. After a public apology he moved
on from his first brush with authority and set his sights on his next
project.

INTRODUCING THE FACEBOOK

It wasn’t long until we saw the first iteration of a now near


ubiquitous company. February, 2004 saw Thefacebook launch.
With a slightly different name, the platform was familiar. It had
a profile where you could upload a photo, share your interests,
and connect with other people. It also offered a network
visualization of your connections.

Initially this was only opened to people with a Harvard email address
and within the first month 50% of the college’s student’s had signed
up. But there was a big problem Zuckerberg had to deal with from the
off. He was being sued.

Zuckerberg previously worked on a similar project with fellow


students Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra.
He eventually quit to do this one thing, Thefacebook. But this ex-
collaborators say he stole their concept and ideas and they wanted
recompense.

They eventually came to a settlement in 2008, with each of the trio


receiving 1.2m shares in the Facebook company. By the IPO, these
were worth $300m, but more on the IPO later.

Thefacebook was an instant hit and interest grew and grew and grew.
By the end of 2004, membership was open to nearly all universities in
the US and Canada and people were clamouring to sign up.

How many users does Facebook have?


 With almost 2.5 billion monthly active users as of the fourth quarter of
2019, Facebook is the biggest social network worldwide. In the third
quarter of 2012, the number of active Facebook users surpassed one
billion, making it the first social network ever to do so. Active users are
those which have logged in to Facebook during the last 30 days. During
the last reported quarter, the company stated that 2.9 billion people
were using at least one of the company's core products (Facebook,
WhatsApp, Instagram, or Messenger) each month.

In 2019, Facebook's revenue amounted to 70.7 billion US dollars, up from


55.8 billion U.S. dollars in the previous fiscal year. The social network's
main source of income is digital advertising.

You might also like