Story of Facebook – Mark Zuckerberg
Facebook, the whole world knows well. The biggest social networking platform in the world. Facebook really brought a revolution, it changed how we use internet today. It may be a chance that you are reading this blog on Facebook itself. As you know well, Facebook is the biggest social networking platform where people around the wolrd can easily keep in touch with all their friends and can also make new friends. They can share photos and videos and can share their precious moments and feeling with their friends easily. Here we are telling you the story of this revolutionary platform created by a young talented boy, Mark Zukerberg. We will discover his inspiring story – How he came with this idea, how he created it and how he become a billionaire.
In 2002, after graduating ,
The Idea of Facebook
After that in 2003, Mark Zukerberg came with an idea and created a site which went so popular in college and created a hype. It was named ‘FaceMash’ in which program selects randomly two pictures, taken by hacking the database of Harvard, of two random students, put them next to each other, asking “who is hotter?” and asking for votes. This site went in full swing and most of the students at Harvard visited it. It became so popular that it crashed the server of Harvard and it was banned. A disciplinary action was taken on Mark, but Mark has noticed that this kind of thing can create a huge hype and interest in society.
The Rising of Facebook
The following semester in January 2004, Zukerberg began creating a new website and that is the revolutionary website Facebook. On February 04, 2004, Mark Zukerberg registerd the domain name TheFacebook.com, now known as Facebook.com. At the starting it was functioned only within Harvard. Then Mark and his partner Eduardo Saverin realised that there were already 4,000 registered users and they have to make it big now. Then they extended their Facebook service to students at Columbia University, Stanford, and Yale. After sometime, the registeration was opened to all students and soon Facebook went beyond the eduction sector as well.
Mark Zukerberg started looking for investors. The first investment received by the PayPal of $500,000 and project began to evolve rapidly. In less than a year, there are more than 1 million people joined their social network. Facebook received more investments and by 2005, it is popular to all educational institutions in USA. Still Zukerberg believed that his project is for students, but due to the extraordinary hype of Facebook, they made registeration accessible for everyone and after that revolution started. The main thing that attracted users is their unique idea that friends could now communicate with each other online. It was something new.
How Facebook makes money
The Facebook audience grew rapidly, but how to monetize this project was still not clear. The context marketing was the best option as Facebook is having detailed profile of users, which can be used to show relevant advertisements. But Facebook continued to grow its audience at that time but now it is using contextual ads. The basic earning comes from contextual ads on the pages of Facebook. In 2013, the turnover of Facebook reached $7.87 billion and net income – $1.5 billion. The 85% revenue comes from contextual ads and most of the rest 15% comes from purchases of virtual goods on popular game like “FarmVille” made on facebook. For more growth further Facebook started buying companies that can continue under Facebook. In April 2012, they acquired Instagram – a photo sharing app for $1 billion. Then in March 2104, they acquired a virtual reality hardware called Oculus Rift for $2 billion. In October 2014, Facebook also bought WhatsApp for $22 billion- which was a fast evolving instant messaging application.
In 2010, Forbes magazine admitted Mark Zukerberg as the youngest billionaire in its list with a worth of $4 billion. Now in the last year 2017, Facebook exceeded $500 billion in his market value. Today Facebook has 2 billion registered users and it’s popularity is historical.
So, I think you are inspired by the story of this genius person who brought a revolution. So, keep it up with your work and do some extraordinary thing, start your startup and revolutionize this world with your idea. Register on our website to know more inspiring stories and to get motivation for your own startup, you can start with us. Have a good day!