FACEBOOK’S HISTORY:HOW FACEBOOK MADE ITS STAND
Some great Minds are born to fulfill our needs,One of those great mind is Mark Zuckerberg
HOW FACEBOOK WAS FOUNDED
Facebook was founded by Mark Zuckerberg When he was 19 years old in 2004 he created facebook at harvard university in his dorm room with his room mate Eduardo Saverin and some other senior harvard students.Facebook was TheFacebook.com at
that time,When Mark Zuckerberg got the idea of a online social networking service,
he began writing code in january 2004 and published Thefacebook.com in Febraury 2004.
TheFacebook.com was initially only limited to the students of harvard university but later on it expanded to colleges in Boston area, the Ivy League, and then gradually expanding to the universities in United States and Canada,Thefacebook.com Was First only for students.Face Book was a student directory with information about the students and featuring some photos so it was only limited by students.This was the first idea of Facebook but then in 2006
it gradually became accessible for anyone with a email address.when Mark told his
friends about Thefacebook.com one of his friends suggested puting it in a mailing list and then by the night they saw Within twenty-four hours, they had somewhere between twelve hundred and fifteen hundred registrants.
The growth of TheFaceBook.com was unbelivable just after 6 days after the site went live Mark was accused by his senior Harvard Students that he mislead them to believe
that he was making a product called Harvardconnection.com but instead he used their ideas and made his own product.This argument soon lead to Lawsuit and still continues till this day.Mark Zuckerberg was soon joined by his friends in the promotion of the site by Eduardo Saverin , Dustin Moskovitz , Andrew McCollum , and Chris Hughes.in march 2004
the site reached several other countries and their universities.
in 2005 the company bought a new domain name called “Facebook”.com in $200,000 and
dropped the previous one
EXPANSION OF FACEBOOK
Facebook expanded rapidly and reached 21 universities all around the world on october 2005 later on Mark Zuckerberg expanded its membership to several companies employees
microsoft etc and by the december of 2005 facebook reached Australia,New Zealand,Ireland,
Mexico,Canada and United Kingdom and Facebook expanded to 25,000+ Universities and 2,000+ High Schools and then by 2006 it became available for anyone with a email address
Yahoo Filed a suit in a U.S. federal court against Facebook on march 2012 saying that facebook infringed several of its patents like advertising,privacy controls etc but later
on court decided that these were the necessary patents needed for a social media
venture capitalist Peter Thiel made a
$500,000 angel investment in the social network Facebook and bought 10% of the company and joined the board of directors.this was facebook’s first angel investment.
Accel Partners made a $12.7 million venture capital investment in a deal in april 2005,after that facebook’s value was at $98 million.
Accel partners joined the board and seats expanded to 5 with 2 empty seats
In april 2006,Facebook had investments from various venture capitalists including Greylock Partners and Meritech Capital,plus Peter Thiel and Accel Partners. this reached a disclosure of $27.5 million and the value for this was about 500 million dollars
later on,october 24.2007 microsoft had purchased 1.6% shares of facebook in 240million giving facebook its value of 15billion.microsoft had purchased speacial shares which allowed them to place international ads on facebook
November 2007, Hong Kong billionaire Li Ka-shing invested $60 million in Facebook
TOTAL GROWTH TILL 2017
as of 2017,Facebook has more than 2billion monthly active users,Facebook has 65million local business pages and facebook had become one of the best place to advertise any sort of business,facebook have millions of games.these numbers of users and pages are increasing day by day and facebook urges to apply new options and new advertising methods and facebook has implemented a way to earn money from videos just like youtube which increased Mark Zuckerberg’s networth to 74.1 billion USD,Facebook will continue to advance further