Facebook world's most used social network which was founded in February 2004 by Mark Zuckerberg. So the journey of facebook from a small social networking website to a social media giant is inspirational.
So,starting from the initial stage Facebook.com was started as a social network for the students of Harvard University and was named as thefacebook.com. The name facebook was derived from directories given to students in Universities in U.S.
At the initial stage of Six days after launch facebook faced its first problem.Harvard seniors Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra accused Zuckerberg of intentionally misleading them into believing that he would help them build a social network called HarvardConnection.com . They even said that thefacebook was based on their idea and they filed a lawsuit against Mark which was settled in 2008 with 1.2 million shares of Facebook.Inc which worth $300 million. As initially it was only for the students of Harvard's and when students shared this social network it then expanded to different Universities . In 2005 ‘the’ from thefacebook was removed and facebook.com domain was bought at $200,000. Paypal became the first investor.
On September 26,2006 Facebook was opened for everyone with 13 year old age restriction. The biggest boost came when Microsoft bought the 1.6% shares of Facebook worth $240 million after which Facebook was valued at $15 billion.
On July 2010 facebook announced 500 million users making it world’s most used social network. On February 1, 2012 facebook filed for its initial public offering(IPO) which was held on May 17,2012 with a share price of $38 and was the largest valuation for a newly created company with $104 billion.
Facebook was dieing now people got bored using facebook, the traffic was still over a billion per month but people started using other social networks which were emerging in the market for eg: google+,vk,twitter and many more. The in February 2014 facebook bought Whatsapp a instant messaging app which use internet and your phone number to send and receive messages which was the smartest decision in my opinion by this facebook took over millions of database which facebook is using these days in showing advertisements .
Mark may have predicted that the future is of photo and videos so he smartly bought a social network that allows user to upload photos and videos only. At that time Instagram was bought and it was a risk for Facebook as Instagram was in losses but as Facebook bought Instagram on April 2012 for $1 billion in cash and stocks after a year in 2013 Instagram had a growth hike of 23%. And hence Facebook captured the whole social networking beating the tech giants like Google etc,
Now Facebook has entered in innovations and Facebook recently bought Oculus Research lab which works on virtual reality.
Now facebook.com is a giant with 1.83 billion active monthly users, a billion whatsapp users, 500+ million insta user base and Net Revenue of 10.217 billion as of 2016 and Mark himself became the 8th richest man in the world with $49.7 billion.
So,this was the journey of Facebook.Inc from its start to the present we are waiting for more products from facebook .
Write down in the comment box what do you think about the future of Facebook