Running head: FACEBOOK AND ITS HISTORY 1 FACEBOOK AND ITS HISTORY 2 Facebook and its History Name: Tutor: Course: Institution: Date: The social networking service has been a platform that builds social relations and social networks among people who tend to share real life connections, interests, backgrounds, and activities. The service consist a representation of each and every user with their profile, a variety of additional services and their social links. The network provides a base for people to connect worldwide and promotes interaction among the world making it more of a global village. Researchers have also used the social networks to consolidate the professional contact and the social ties. This paper familiarizes with Facebook as a social network and gives a brief history of the network. FACEBOOK Origin of Facebook Facebook was launched in February 2004 as a social networking service. It was operated and owned by Facebook. The social networking service was founded Mark Zuckerberg in Harvard university. The membership of website was initially limited to the Harvard university students but was later expounded and opened to other colleges and universities in the United States. By September 2006 it was opened to any person of age of 13.the social networking service is now the most widespread network in the whole world (Good, 2013).. The Facebook predecessor opened Facemash website in October 2003 invented by Zuckerberg himself and three of his classmates in second year of their college. The website was set up for the comparison of pictures of university students dubbed “hot or not” game. The site mirrored the physical community of people together with the real identities and this represented a major key aspect as to what was later to become Facebook. Development of Facebook over the Years In September 2005, a highs cool version was launched and was dubbed the next logical step of Facebook. In that time, the high school networks were grounded by the requirement of an invitation to join. Later on, Facebook then expounded the membership and eligibility to the employees’ of several companies. In the late 2007, the website had already included the business entity and created pages where the businesses marketed and promoted themselves in order to attract their customers. In October2007, Microsoft purchased a 1.6% share of the website and this increased the value of Facebook. It purchased the included rights on the placement of international adverts on the website. Later on, Facebook then announced it’s headquarter setups in Dublin, Ireland. In September 2009, Facebook had turned all its cash flow to a positive digit and became the third largest company in America operating on web business. In June 2011, Facebook became the second most accessed website in the world behind Google. This was due to the increased traffic it received from the year 2009 as more people were visiting the website frequently. Due to th.

1. Running head: FACEBOOK AND ITS HISTORY 1
FACEBOOK AND ITS HISTORY 2
Facebook and its History
Name:
Tutor:
Course:
Institution:
Date:
The social networking service has been a platform that builds
social relations and social networks among people who tend to
share real life connections, interests, backgrounds, and
activities. The service consist a representation of each and
every user with their profile, a variety of additional services
and their social links. The network provides a base for people to
connect worldwide and promotes interaction among the world
making it more of a global village. Researchers have also used
the social networks to consolidate the professional contact and
the social ties. This paper familiarizes with Facebook as a social
network and gives a brief history of the network.
FACEBOOK
Origin of Facebook
Facebook was launched in February 2004 as a social networking

2. service. It was operated and owned by Facebook. The social
networking service was founded Mark Zuckerberg in Harvard
university. The membership of website was initially limited to
the Harvard university students but was later expounded and
opened to other colleges and universities in the United States.
By September 2006 it was opened to any person of age of
13.the social networking service is now the most widespread
network in the whole world (Good, 2013)..
The Facebook predecessor opened Facemash website in October
2003 invented by Zuckerberg himself and three of his
classmates in second year of their college. The website was set
up for the comparison of pictures of university students dubbed
“hot or not” game. The site mirrored the physical community of
people together with the real identities and this represented a
major key aspect as to what was later to become Facebook.
Development of Facebook over the Years
In September 2005, a highs cool version was launched and was
dubbed the next logical step of Facebook. In that time, the high
school networks were grounded by the requirement of an
invitation to join. Later on, Facebook then expounded the
membership and eligibility to the employees’ of several
companies. In the late 2007, the website had already included
the business entity and created pages where the businesses
marketed and promoted themselves in order to attract their
customers.
In October2007, Microsoft purchased a 1.6% share of the
website and this increased the value of Facebook. It purchased
the included rights on the placement of international adverts on
the website. Later on, Facebook then announced it’s headquarter
setups in Dublin, Ireland. In September 2009, Facebook had
turned all its cash flow to a positive digit and became the third
largest company in America operating on web business.
In June 2011, Facebook became the second most accessed
website in the world behind Google. This was due to the
increased traffic it received from the year 2009 as more people

3. were visiting the website frequently. Due to this, the website
management has improved the website in the cyber security
sector to avoid manipulation of the users.
The website and company in the beginning of year 2012 filed
for the initial public offer in the state of California. The offer
was later held in May the same year and the company had the
largest valuation as a a public company which was newly listed.
The company introduced an application center in 2012 and a
store that sole the application through the site. The company has
continued to grow in an improved manner and recently
celebrated its tenth anniversary recording a high number of its
mobile users. Its development has augured well with the
technical advancement in the global world.
Advantages of Facebook
Facebook has enabled the widespread of information in a faster
and efficient way. Since the connection has been global, people
are able to access the world news at ease. There are also
communities and pages on Facebook that help track the newest
and latest updates of information in specific fields. The
information about people has been made readily available and
thus the website seems to be more informative.
Facebook has helped more on the connection of friends, family,
college and work groups (Dr. Shree Bhagwat, 2013). It has
provided a medium for the exchange of ideas with dear ones
who are geographically far from each other. The online talks
have been cheaper compared to the calls that have to be made
and make the presence of the far placed dear ones being felt
close. It also includes a video call that means one can see
another person who they are communicating to compared to
calling them.
Facebook has been used as source of entertainment in many
ways. The updates of gossip from friends and their updates keep
the users in an entertaining mood. There are also videos of
one’s interests and a lot of interactive games to play. The
websites also includes quizzes and applications which are used

4. for fun and entertainment.
Over the years, businesses have continued to use Facebook in
their promotions and marketing strategies. Facebook has
provided an intelligent medium for the marketing of products.
The increasing users of the website have prompted businesses to
use Facebook to target its potential customers in the near future.
The users’ visit the page and the official site of the business for
the products and will have their issues addressed (Dr. Shree
Bhagwat, 2013).
Disadvantages of Facebook
Facebook has had the breach of privacy and personal
information. Stalkers and hackers have found a way peoples
personal information no matter how protected it is. The personal
photographs are easily stolen and personal informational is used
by the hackers to their own advantage.itg has been advisable not
to share information update that is more private and personal.
Some people create false profile for fun and use them to stalk
others. The profiles are fed with false information, which the
stalkers use to blackmail people. A lot of people have entered
into relationships with wrong people due to the manipulation by
the stalkers. People have created sites that pose as business
entities and collect funds from customers to their benefits.
Facebook is much more addictive and time consuming.
Employees are known to spend more time on Facebook rather
than doing constructive work of their organizations. This results
to loss of the organization profits and on personal effects it
makes people lazy as they will spend more 6time on Facebook
due to its addictive nature.
Future Prospects of Facebook
The future prospect of Facebook has been based on mobile
payments. This is due to their increased number of mobile users
worldwide. It is also more typically based on the advertisement
field as it has formed the current basis of the company revenue (
Dr. Shree Bhagwat, 2013). The rise of the mobile banking has
made the company look towards investing in the mobile banking

5. in the near future. Though it has continued to receive
complaints on the privacy issues, Facebook is prioritizing in
creating an account that serves to completely hide the personal
information of its users from hackers and users. Facebook
future prospects are more based on revenue addition and
creation.
Reference
What are the Advantages and Disadvantages of Facebook.
(n.d.). What are the Advantages and Disadvantages of
Facebook. Retrieved April 25, 2014, from
http://www.muchtech.org/2013/06/what-are-the-
advantages-and-disadvantages- offacebook.html
The Future Of Facebook Is Mobile Payments | Mobile-
Financial.com. (n.d.). Mobile Financial Services Industry.
Retrieved April 25, 2014, from http://mobile-
financial.com/news/future-facebookmobile-payments
Good, K. D. (2013). From scrapbook to Facebook: A history of
personal media assemblage and archives.New Media &
Society, 15(4), 557-573.
Shree Bhagwat Dr. Shree Bhagwat. (2013). Development of
Social Networking Sites and Their Role in Business with
Special Reference to Facebook. IOSR Journal of Business and
Management, 6(5), 15-28.