What is Facebook? - The Most Powerful Social Media Platform

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What is Facebook?

Facebook is a Social Media Platform and the world's largest content platform which connects people across the world. More than defining it as a social media platform, it's an eco-system which connects the entire world virtually.

History

Facebook is founded by Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, Chris Hughes in 4th of February 2004. Initially the Facebook was only accessible for the Harvard University students and later on the platform was accessible for other universities in USA and some universities in the UK also.

The features of the Facebook grew day by day where it attracts the user's attention and to do creative things in the platform itself. After bringing the platform to live in Harvard dorm room, Mark Zuckerberg took the company to Palo Alto after meeting the Napster co-founder Sean Parker in mid of 2004.

After moving to Palo Alto, The Facebbok received the first official institutional investment from PayPal co-founder Peter Thiel. Facebook dropped the "The" in the name of the The Facebook and moved to the domain of Facebook which they uses at the moment in 2005.

Facebook received the second investment in 2005 from the Accel Partners of a value of $12.7 Million and Jim Breyer added a $1Million of his personal money to the startup which was only a year old.

The magic happened in 2006 September 2006, when the Facebook gave the general public to create account in Facebook under two conditions which were to be aged above 13 years old and need to have an email account.

Facebook when public after filing the initial public offering or the IPO on NASDAQ on 1st of February 2012 and holding the initial public offering on 17th May 2012 at a negotiated share price at $38 per share. Facebook claims the position of the largest valuation to date for a newly listed public company in the history of NASAQ stock exchange which valued the company at $104 Billion.

Facebook has acquired multiple organizations to date which includes WhatsApp, Instagram, Oculus VR and etc...

Who Uses Facebook?

Usage of Facebook is wide compared with many social media platforms in the world. Facebook is used by individuals, businesses, charities and almost all the types of organizations in the world with different intentions.

Individuals like normal human beings uses Facebook to connect with others and to exchange information and to leave updates about themselves. Celebrities uses Facebook to be popular and to share the content which they produce. News and media companies uses to share the content that they produce and to gain more hits to their destinations.

Small, medium and large enterprises use Facebook to advertise their products to the target audience to execute marketing campaigns. Charities to showcase about the cause that they want to make more awareness, uses Facebook.

Apart from above points, there are many parties uses Facebook for many reasons and for many objectives.