Facebook is the world's largest social network, with over 500 million users. Facebook was founded or created by Mark Zuckerberg in February 2004. At first, it is an exclusive network only for Harvard students. It was a strike gold. Within 2 weeks, half of the schools in the Boston area began demanding a Facebook network. Zuckerberg with his friends, Dustin Moskovitz and Chris Hughes cooperate to build Facebook. As a result, after 4 months, Facebook had about 30 more college networks.
with the success, Zuckerberg, Moskowitz and Hughes moved out to Palo Alto for the summer and rented a sublet. A few weeks later, Zuckerberg meet the former co-founder of Napster, Sean Parker. Parker made decisions to live in Zuckerberg apartment and work together o Facebook. Parker provided the introduction to their first investor, Peter Thiel, co-founder of PayPal and managing partner of The Founder Fund. Theil invested $500, 000 into Facebook.
one bitter note for Facebook has been the controversy with social network ConnectU. The founders of ConnectU, former classmates of Mark Zuckerberg at Harvard, stated that Zuckerberg stole their original source code for Facebook. The ordeal has gone to court, and has now been resolved.
not with standing this lingering controversy, Facebook's growth in the fall of 2007 was staggering. Over 1 million new users signed up every week, 200,000 daily, totaling over 50 million active users. Facebook received 40 billion page views a month. long gone were the day of Facebook as a social network for college students. 11% of users are over the age of 35, and the fastest growing demographic is users over 30. Facebook has also seen huge growth internationally, 15% of the user base is in Canada. Facebook users' passion or addiction, to the site is unparalleled. More than half use the product every single day and users spend an average of 19 minutes a day on Facebook. Facebook is 6th most trafficked site in the US and top photo sharing site with 4.1 billion photos uploaded.
Based on these types of numbers, Microsoft invested $240 million into Facebook for 1.6 percent of the company in October 2007. This meant a valuation of over $15 billion, making Facebook the 5th most valuable Us Internet company, yet with only $150 million in annual revenue. many explained Microsoft's decision as being solely driven by the desire to outbid Google.
SOURCE:
http://techcrunch.com/2010/07/21/facebook-500-million/
http://www.businessinsider.com/200-million-people-use-facebook-mobile--up-3x-from-last-year-2010-11
http://techcrunch.com/2011/01/03/facebook-users-uploaded-a-record-750-million-photos-over-new-years/
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