Facebook is a giant that has connected the world like anything. It was literally started by Mark Zuckerberg in his university’s dorm room. As a first objective, he wanted his platform to be used in his university to connect people. Later the idea grew exponentially and made the investors and him insanely rich. So rich in fact he was the youngest billionaire of his time.
It wanted to stay on the top always, so recently it bought Instagram and WhatsApp which the company realized could become their serious competitors, so Facebook bought them. The company made a good deal as it bought Instagram a mere $1 billion, which is a bargain as compared to its current valuation of $100 billion, a truly exponential growth. And for Whatsapp, the company bought it for $19 billion in 2014.
Facebook was started out by none other than Mark Zuckerberg, literally from his dorm room. The company was first started as a way to connect people from his college. He initially studied at Harvard but later on dropped out in search of pursuit. This pursuit ultimately made him the youngest billionaire at age 23 in 2008. Such a feat was not conquered without its fair share of ups and downs. He was accused of stealing the idea of Facebook by some twin brothers, those twin brothers later became billionaires through Bitcoin. He was also recently accused of data manipulation, for which he was questioned in front of Congress.
Interestingly when Mark was making the company, he invited some of his friends to give them shares of the company. Few of them saw this as a good opportunity and took the offer and some didn’t believe in the idea hence refused. The ones who accepted are now worth more than $500 million. This goes to show that when someone believes in you, don’t underestimate it.
THE SECRET ALGORITHM
Facebook was one of those revolutionary ideas which kept people at the center of their business model. Connecting people from different parts of the world regardless of where you are was the main motto of their business and that too for free and ‘always will be’, it says that on the official FB page. Now the company is trying to make an absolute empire as whatever social media platform is there in the world, Facebook just goes ahead and buys it. Take Instagram for example, FB bought Instagram for a mere $1 Billion but today it is valued at $100 Billion, how about that for a profit!
The Cool Factor:-
When Facebook was launched it was an instant success and people liked the idea very much. During the time early age of FB, it was at its peak as every millennial had an account on it. It surely added a cool factor to your personality, I am not gonna lie. It broke all the records of photos and videos uploaded on the internet and maybe some of the records are still standing today.
Everything in this world has a negative and a positive side so does Facebook as sometimes it is argued that the only thing Facebook has done is to make the relationship between people even worse than before. But I don’t think this to be entirely true. Elder generations were able to find their lost college and school friends and the younger generation learned to live in the 21st century.
Millennials vs Older Generation:-
FYI, Facebook nowadays is more popular in the older generation than the younger generation. Surely our mom and dad are missing their college friends more than us. Millennials are shifting to Instagram whereas the older generation has nowhere to go so they are stuck with FB. Earlier, FB didn’t have the option of uploading videos but with the changing times, they realized what they are missing and included it along with other features.
The ZUCK Factor:-
Facebook didn’t have any color at first, the way it looks today with its blue resemblance is due to the fact that the founder Mark Zuckerburg is color blind and can’t differentiate between the shades of blue.
Also, an amazing fact about FB is that Mark Zuckerburg literally started the company from his Harvard dorm room. He called some of his mates to be a part of the company by offering them some shares in the company. Some people refused and some accepted the deal. Those who accepted it at the time are now Billionaires. They are Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes.
In my opinion, FB is a company that has made distant family and friends closer than ever before and made life easier for some businesses. People argue that social media platforms aren’t social, it doesn’t depend on others unless how you want to be benefitted from it. There is a ton of good quality content just lying there for you to watch and there are also loads of crappy stuff that just needs your attention. So it is your take on how you make it beneficial for yourself!!
HOW IT CHANGED THE WORLD
There is no denying the fact that it has “connected people more than Nokia”. In the early 2010s, someone without a Facebook account was pronounced uncool. At that time every millennial was on Facebook. It was easier than ever before to connect to somebody.
But nowadays in the decade of 2020, people are slowly reducing the use of Facebook and moving to other social media platforms, which are owned by Facebook, how ironic. Again they are smarter people as they were ahead of the coming trend.
It has even gone on the record to find “missing people”. People separated at birth could find themselves. Adopted children could find their biological parents. This was the level of connectivity provided by Facebook with their brilliant algorithm.
Facebook was one of the very first social media platforms to gain so much popularity. As a result, it made the company one of the market leaders in the industry. It went public on the 18th of May, 2012. If you have invested in Facebook’s IPO, you would have got a 23.3% annual rate of return as of May 2020, pretty good in my opinion. It was this IPO that made Mark Zuckerberg the youngest billionaire in the world.
Facebook stock is currently trading at $276.4 per share (under the intial FB) with total outstanding share of 2.891 billion at the time of writing this article.
Multiplying them will give us the market capitalization.
THINGS YOU DIDN’T KNEW ABOUT FACEBOOK
- The color of Facebook is blue, which is not by choice but it’s an honest unknowing. Mark Zuckerberg is red-green color blind. In an interview he states that “blue is the richest color for me, I can see all of blue”.
- Earlier in the initial days of the company, the “Like” button was called the “Awesome” button. Later, the decision was taken to drop the idea of awesome and stick to like instead. If this wasn’t the case then we would have been using the awesome button for giving our feedback.
- It is estimated that someday the social media site will have more accounts of dead people than living ones. Such accounts are accumulating every day. To our surprise, people have been murdered for unfriending someone on Facebook.
- The actual and exact meaning of the word “poke” in Facebook terms has never been defined.
B’day of Facebook is in the month of February, 2004.