The Complete Biography of Facebook

 In terms of traffic, it is the second largest social network on the internet, after only MySpace. Facebook, which is primarily targeted at high school and college students, has been increasing market share and, more importantly, a loyal user base. Since their start in February 2004, they've amassed over 8 million members in the United States alone, and have expanded to seven additional English-speaking nations, with more on the way. Let's take a look at Facebook, a booming phenomena.

Since the company's inception, Facebook's stock has risen dramatically. Facebook's common shares were priced at 78 cents in January 2006, according to documents with the California Department of Corporations. They had risen to latest Technology News year. They were $6.61 in August of this year. According to Delaware incorporation filings, Facebook split its shares 4-to-1 in July 2006, resulting in a split-adjusted price of 19.5 cents in January 2006. In less than two years, Facebook's perception of its own worth has increased by more than 33-fold.

History

Facebook is a social networking service that allows users to communicate and share information with their friends. Mark Zuckerberg, a former member of the Harvard Class of 2006 and former Ardsley High School student, launched Facebook on February 4, 2004. Within months, Facebook and its core concept had swept across Harvard dorm rooms, where it was enthusiastically embraced. It was quickly expanded to Stanford and Yale, where it was generally endorsed, just as it had been at Harvard.

Mark Zuckerberg was soon joined by two other Harvard students, Dustin Moskovitz and Chris Hughes, to assist him in taking the site to the next level. Only a few months later, when Facebook had become a nationwide phenomenon, Zuckerberg and Moskovitz dropped out of Harvard to pursue their aspirations and manage Facebook full-time. Facebook was renamed Facebook in August 2005, and the domain facebook.com was purchased for a reported $200,000.

Availability

Facebook isn't available to everyone, unlike its competitors MySpace, Friendster, Xanga, hi5, Bebo, and others, which explains its low user numbers. Users must currently be affiliated with one of the 30,000+ accredited schools, colleges, institutions, organisations, and businesses in the United States, Canada, and other English-speaking countries. Having a valid e-mail ID with the relevant institution is usually required.

Funding & Business

Given the state of competing online social networks, Facebook is in a strong financial position. While it hasn't been acquired in the same way that MySpace has, it has been fortunate in many ways. It received $500,000 in seed capital from Peter Theil, co-founder of PayPal. It was also able to raise $13 million from Accel Partners, who also invest in 15 other how to delete facebook messages, and $25 million from Greylock Partners a few months later, bringing their total venture to over $40 million.

The Long Run

Facebook is a hugely popular social networking site that rose to prominence in a short period of time. It's easy to see why: the platform's features and tools are compelling, and Facebook members are extraordinarily well connected offline. Rumors of a deal are still circulating, with some putting the price tag in the billions of dollars. In the short term, though, Facebook intends to go it alone, continuing to build out one of the world's most successful social networks Business Management Articles.