History of Facebook and Earnings

History of Facebook and Earnings



History of Facebook and Earnings

History of Facebook

Facebook was founded in 2004 as a hobby by Mark Zuckerberg, at that time when he was Harvard student. In its first month of operation Facebook had the subscription for more than half of Harvard students and then expanded to universities MIT, Boston University and Boston College and most U.S. institutions. This site was originally a mission to enable students of the University to share between them the various pictures taken during the year. Within a month, more than half of Harvard students had a profile on this site and could then make connections between their classmates and even contact with other students of the University (Boyd & Nicole, 2007).

In 2005, Mark decided to invest $ 200 000 on the purchase of the domain name facebook.com. $ 200 000 for a domain is small beer when you think about today. In September 2005, Facebook decided to expand its customer base and created a version of their site for high school students. A little later, he diversified even more clients by inviting companies to register on the site (companies like Microsoft and Apple). A year later, Facebook had more than one million users, an office in Palo Alto, California and received financial support from Peter Thiel first (co-founder of Pay-Pal and angel investor) (500 000 U $ D) and after the Accel Partners ($ 12.7 million). That same year he joined, students from more than 25 000 secondary schools and two thousand universities in the U.S. and abroad, making a total of 11 million users (Ellison & Nicole, 2007).

In 2006, Facebook introduced more foreign universities and new services development platform such as Facebook Notes (a blogging tool with tagging, images and other utilities) or import of services such as blogs Xanga, LiveJournal or Blogger, and by 2007 Facebook Marketplace, which competes with Craigslist (EDUCAUSE, 2006).

In 2006 Facebook was "made public" allowing not only students of certain universities or American schools participate in it, but all the people who have email can be part of the community. Facebook then became a community of communities it connects students companies and people who may choose to participate in one or more networks. It is a community created by and based on its members (EDUCAUSE, 2006). Currently there are more than 2000 employees of Facebook all over the world.

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