2. When did Facebook start as a
company?
Facebook was founded by Mark Zuckerberg whilst studying at Havard
University. 'The Facebook' was launched in February 2004 which was its
original name, within 24 hours 1,200 Havard University students had signed
up to the social media site and after a month half of the undergraduate
populating at Havard University had a profile.
It became 'facebook.com' in August 2005 after the domain name was bought
for $200,000. The website was initially only developed for university students
however due to its success it expanded its audience by reaching usage
worldwide in September 2006.
3. The origin of Facebook; what did it start
out as?
In 2003 Mark Zuckerberg made a website called 'Facemash' which was a
website where Havard University students could decide which students were
'hot or not', it was opened on 28th
October 2003 and was closed a few days
after due to it breaching many legal regulations.
TheFacebook was then launched in February 2004 initially for only Havard
University students. In 2005 the named changed to Facebook.com after the
domain name was bought for $200,000. In 2009, it had become the world's
most used social networking service, according to a report by the analytics
site Compete.com.
4. How have Facebook evolved their
products over time?
Facebook have evolved their products by adding services within the
application for example there is now Facebook messenger which is a
separate app for mobile devices that allows users to chat, call, video call,
play games, send voice notes and much more. Facebook also introduced
Marketplace which is a buy and selling site within Facebook. Facebook also
has introduced adverts to help fund the website.
Facebook has also developed in terms of what it offers to the users, it now
offers easy networking, instant communication, marketing and promotion
opportunities and quick access all of these benefits have evolved over time
in order for Facebook to be like it is today.
5. How have Facebook's products adapted
to the digital era?
Facebook has become more accessible over time with the development of
apps as well as the development of the website. Facebook has an official
app that can be used across all mobile devices and it also has a Facebook
messenger app which makes communication easy among Facebook users,
the website has also developed and has added a messenger feature as well
as the Marketplace page which is a buying and selling page exclusive to
Facebook, this is where users can buy and sell goods this service can be
used on the website and on the app.
These products have all adapted to the digital era as they are ever growing
and always updating to be up to date with the latest technologies. For
example, messenger introduced the 'story' feature where users could post
daily pictures or videos to their story for everyone else to see, these pictures
and videos disappear after 24 hours which encourages users to upload daily
– this is a feature that Snapchat and Instagram introduced before Facebook
took the idea on board this shows that the products adapt to the new
updates and technologies.
6. What companies have Facebook
bought or collaborated with?
One of Facebook's biggest purchases was Instagram of which they bought
for about $1 billion in cash and stock.
Facebook have acquired more than 50 companies, one of which being
WhatsApp which is a popular communication application where users can
message one another via mobile number.
Facebook acquire these companies as they plan to use them for global and
mobile dominance.
7. How have the developments had an
impact on company, staff and revenue?
As Facebook and all of its acquisitions are ever growing, this development
has had an impact on a number of things;
● The number of employees working for them, Facebook employed 25,105
people as of December 2017
● Facebook as a company are worth more due to the developments that have
taken place.
● Employees of Facebook now have bigger and better salaries due to the
amount the company are worth.
