Facebook – Net Worth, Money and More
Net Worth: $31.6 billion
Facebook is the most popular social networking platform prevailing today. It was on February 4, 2004 that this giant social networking service was founded. This means that on February 3 this year, Facebook celebrated its 10th anniversary. Currently, Mark Zuckerberg is the chairman and the CEO of Facebook. However, it was not only this man who was behind the story of Facebook, instead, a group of his college friends including Eduardo Saverin, Dustin Moskovitz, Andrew McCollum and Chris Hughes was behind it. In the beginning, only the Harvard students had an access to this website, but gradually, its popularity grew and eventually, Facebook was made open to anybody who was above the age of 13 years. That means, you an now enjoy Facebook even if you are under the age of 18 but above the age of 13.
The headquarters of Facebook are located in Menlo Park, California. It was on February 1, 2012 that Facebook went public. Later, in the month of May, the same year, Facebook Inc. offered stocks for trading to the NASDAQ. Facebook was also added to the Fortune 500 list in May 2013 and at that time, it was on number 462. The reason why this company was added to the prestigious Fortune 500 list of companies is that it earned $5 billion in 2012 alone.
How to Use Facebook?
In order to use Facebook and its services, it is mandatory for all the users to create an account on it. As the tagline of the Facebook says, “Sign up now! It’s free and will always be,” you need not pay any money to create an account. You can edit your profile as many times as you want and to exploit the service, it is advisable that you add some friends. But, the other users would need to accept your friend request before you can start exploring Facebook. You can exchange messages with other users and get notifications when any of your friend updates his/her profile. Groups and lists can also be created. You can add your close friends to the list of close friends and your family members to the list of Family. Options for adding friends to People from work is also available.
As for now, Facebook has more than a billion users who sign in every day. But, you would be surprised to know that 9% of these profiles are fake. Till now, 180 petabytes of data has been uploaded to Facebook and within every 24 hours, approximately half petabyte of data is being added to Facebook. As far as the market capitalization and growth is considered, Facebook deserves to be called the 5th most successful start-up company.
People not only use Facebook to connect with their school friends, college mates and co-workers, but they also use it to stalk their exes, remember the birthdays of their friends and play games on Facebook.
Facebook is the most used social networking giant and if we count the monthly users, no other website has this much traffic. It was in the year 2005 that Accel partners invested an amount of $12.7 million in this social networking website. Later on, in the same year, Jim Breyer also invested $1 million in Facebook.
It was in the year 2012 only that Facebook’s value reached $104 billion. This was a huge reward as far as any company’s market capitalisation is concerned. Later on, in January 2013, the value even got up to $134 billion. If we take the data of January 2014, 1.23 billion users have already been registered on Facebook. Another great achievement of Facebook is worth to mention here, around 945 million users of Facebook use it via the mobile devices.
Sheryl Sandberg, the chief operating officer at Facebook Inc., one declared that when Facebook was started, the founders did not have business motives in their mind, rather, they had a vision to connect the world and till this day, the company officials are striving to achieve that goal only.
The most important question here is – How Facebook manages to earn this huge sum of money? Well, the answer is advertising. Most of the money that rolls back to Facebook is through advertisements only. Owing to the popularity of Facebook, one can rightly guess that creating adverts on Facebook is probably the best way to boost up his/her business. And this is what the company officials take advantage of.
However, you would be surprised to know that Facebook’s click through rate is far below than any of the popular websites. This is because people do not log into Facebook to view content. Rather, they log in to connect with the world. Then, how does Facebook earns through adverts? The huge fan following of Facebook means that there are so many users associated with it and hence, Facebook uses an algorithm to know which user is interested in what kind of content. Using this strategy, only those ads pop up on your Facebook news feed which Facebook thinks you would click on.
Since Mark Zuckerberg is red-green colour blind, it is only the blue colour that he feels is the richest for him, and hence, he has created Facebook in blue colour. Coded in PHP, the PHP turns into C++ when it is compiled, it is done by the HipHop for PHP compiler, which was developed by the Facebook engineers themselves.