Facebook – the world’s largest social network celebrates its 10th birth anniversary today. However Facebook is not just a social network today, it is now seen as a part of life.
As the world’s 1.23 billion monthly active Facebook users celebrates its 10th birth anniversary, let’s look into its history and the last 10 years in which it grew into a social media platform free from the clutches of the biased media barons having their own hidden agendas.
History of the formation of Facebook?
On October 28, 2003, Mark Zuckerberg during his days as a student of Harvard wrote a program called “Facemash” where he posted photos from Harvard’s Facebook (A face book or Facebook is a printed or online directory found at American universities consisting of individuals’ photographs and names) for the university’s community to rate.
Facemash attracted 450 visitors and 22,000 photo-views in its first four hours online. The site was quickly forwarded to several campus group list-servers, but was shut down a few days later by the Harvard administration.
Zuckerberg faced expulsion and was charged by the administration with breach of security, violating copyrights, and violating individual privacy. Ultimately, the charges were dropped.
Zuckerberg expanded on this initial project that semester by creating a social study tool ahead of an art history final. He uploaded 500 Augustan images to a website, and each image was featured with a corresponding comments section. He shared the site with his classmates and people started sharing notes.
Inspired and learning from the “Facemash Incident” Zuckerberg began writing code for a new website in January 2004.
On February 4, 2004, Mark Zuckerberg launched: The facebook”, originally located at”thefacebook.com’.
Initial Days of Facebook
Membership was initially restricted to students of Harvard College. Within the first month, more than half the undergraduates at Harvard were registered on the service.
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 and the United States.
In mid-2004, entrepreneur Sean Parker (an informal advisor to Zuckerberg) became the company’s president.
In June 2004, Facebook moved its operations base to Palo Alto, California.
It received its first investment later that month from PayPal co-founder Peter Thiel.
In 2005, the company dropped “the” from its name after purchasing the domain name facebook.com for $200,000.
A high-school version of the site was launched in September 2005.
On September 26, 2006, Facebook was opened to everyone at least 13 years old with a valid email address.
On October 24, 2007, Microsoft announced that it had purchased a 1.6% share of Facebook for $240 million, giving Facebook a total implied value of around $15 billion
Traffic to Facebook increased steadily after 2009. More people visited Facebook than Google for the week ending March 13, 2010
Facebook eventually filed for an initial public offering (IPO) on February 1, 2012. Facebook Inc. began selling stock to the public and trading on the NASDAQ on May 18, 2012.
Based on its 2012 income of US$5 billion, Facebook joined the Fortune 500 list for the first time on the list published in May 2013, being placed at position 462.
In 2012, Facebook was valued at $104 billion, and by January of 2014 its market capitalization had risen to over $134 billion.
At the end of January 2014, 1.23 billion users were active on the website every month, while on December 31, 2013, 945 million of these totals were identified by the company as mobile users.
A recent study reveals that more than 20% of all time spent on the internet is spent on Facebook.
On its 10th birthday
The Facebook founder Mark Zuckerberg described the journey of Facebook as “a mission of making the world more open and connected.”
Zuckerberg, Facebook’s chairman and chief executive officer know that the biggest challenge for Facebook is to keep growing.
But probably Facebook’s potential at changing the society has not been explored yet. With such a large user base, may be one day it will help in transforming the world to be a much better place to live in.