Skip to main content

Facebook amazing at 10

Today marks 10 years since Mark Zuckerberg founded Facebook from his dorm room at Harvard University. Since then, the site has grown to become a global service with more 1.2 billion monthly active users.

"It's been an incredible journey so far, and I'm so grateful to be a part of it. It's been amazing to see how people have used Facebook to build a real community and help each other in so many ways," said Zuckerberg. "In the next decade, we have the opportunity and responsibility to connect everyone and to keep serving the community as best we can."
Six days after the site launched, three Harvard seniors (Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra) accused Zuckerberg of intentionally misleading them into believing he would help them build a social network called They claimed he was instead using their ideas to build a competing product. The three complained to The Harvard Crimson and the newspaper began an investigation. They later filed a lawsuit against Zuckerberg, subsequently settling in 2008 for 1.2m shares (worth $300m at Facebook's IPO).

In March 2004, Facebook expanded to the universities of Columbia, Stanford, and Yale. It later opened to all Ivy League colleges, Boston University, New York University, the MIT, and gradually most universities in Canada, the United States and beyond.

Napster founder and entrepreneur Sean Parker (an informal advisor to Zuckerberg) became the company's president in mid-2004. Facebook moved its operations to Palo Alto, California, and received its first investment from PayPal co-founder Peter Thiel. By the end of 2004, Facebook had reached 1 million users.
The following year, the company dropped the 'the' from its name after purchasing the domain name for $200,000. Facebook also expanded membership eligibility to high-school students and employees of several companies, including Apple and Microsoft.
In September 2006, Facebook was opened to everyone at least 13 years old with a valid email address. The company also launched its News Feed, allowing users to get continuous updates on what their friends were doing. The feature was controversial at the time, but soon became an integral part of the service.
Facebook announced that it had turned cash-flow positive for the first time in September 2009. Traffic to Facebook increased steadily to reach 360 million users by the end of 2009, and 608 million by the end of 2010. The company introduced the 'Like' button on 9 February 2009.

In November 2010, private exchange Second Market valued Facebook at $41 billion making it the third largest American web company after Google and
Facebook held an initial public offering on 17 May 2012, negotiating a share price of $38. The company was valued at at $104 billion, the largest valuation to date for a newly listed public company.
The IPO raised $16 billion, making it the third largest in US history. However, the value of the stock declined rapidly, and by the end of May 2012, it had lost over a quarter of its starting value. Its user base continued to grow, and in October 2012, Facebook announced that it had more than one billion active users.

Facebook claims to have cracked mobile advertising.
Since the IPO, Facebook has focused on expanding its mobile offering, improving its privacy controls and refining its advertising proposition. Mobile ads accounted for 53pc of advertising revenue in the fourth quarter, compared with 49pc the previous quarter, prompting shares to soar to close to $60.

However, analysts have warned that Facebook's popularity is waning, with teenagers viewing the site as "uncool" and keeping their profiles live purely to stay in touch with older relatives. A recent report by GlobalWebIndex found that Facebook has declined by 3pc over the last six months, in the face of growing competition from new social media apps like WeChat, SnapChat and WhatsApp.

Today, 757 million users log on to Facebook daily . If Facebook was a country, it would be the third largest in the world by population. Last week, Facebook's market capitalisation passed the $150bn mark, putting it in a very exclusive club of companies to break through the watershed valuation before they turned 10 years old.


Popular posts from this blog

Why Pastor Goodheart Ekwueme Resigned From House on the Rock Church in Abuja

I have been in pains!

If you follow me on Instagram, you will notice, I put up my pastor and coach's picture last weekend because I was heart broken.
He is Pastor Goodheart Ekwueme, the outgone (as much as I hate to use that) resident pastor of my local assembly in Abuja. I and all those who knows him, are going to miss him soooooooo much, it hurts.

Jenny Chisom's 12 Codes of Conduct for Men That Rivals Any Male Code

It's been a tough past week so I am grateful for Sunday heralding a new week.
I have been burdened to create a Code of Conduct for members of the League of Extraordinary Men (LExM) on Facebook. So while I couldn't attend service, I sat down and wrote this down on my note pad, then typed it.
This came in a bid to begin to restructure the group to ensure it is serving the right purpose and the right men.

Violence Against Men, Mnombo Madyibi and The VAPP Bill

Quite some fuss has been on about this man in picture MnomboMadyibi who was allegedly hit with a bottle of wine and also suffered attempted suffocation using a red and white teddy bear. But as expected it did not get as much attention like if the switch was fixed (the experience being that of the woman).
We must know that if men keep being treated like non humans, even the violence against women we usually fight for, will only increase astronomically, since after all a woman must live and find her fulfilled being married to a man or at least living and being in relationships with them.