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Facebook: A Social Media Power House

Undoubtedly the most well-known social media site in the world, Facebook’s history might not be as recent as most people think it is. Originally meant as Harvard University’s own social media platform in 2004, it grew from that idea, developed further, and evolved into becoming an international success.

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It’s domain is www.facebook.com and spearheaded by Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. As the most popular social media website, it has connected millions of people and continues to establish relationships based on the continuously growing networks of its users.

History of Facebook

According to Faceook’s founder and programming prodigy Mark Zuckerberg, the social media giant was born after he made “facemash” on a whim, an online site in Harvard that pits 2 people randomly and lets others judge who is more popular and attractive.

Facemash was made possible through hacking into several websites in order to gain information. These were then randomized and shown. Initially a fun joke, this outraged several people inside the university and almost got Mark kicked out of Harvard.

The idea of connecting people online created the spark he needed for Facebook. Gathering help from Dustin Moskovitz, Chris Hughes, and funded by Eduardo Saverin, the social media site got its push to move forward to the world.

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What started out as thefacebook in 2004 has now become a global social media site. Today, Facebook hosts 1.65 billion active users worldwide and continues development for future innovations.

Marketing and how your information is gathered

Through the years, Facebook, as both social media platform, has made the site an effective tool in establishing connections for people all over the world. As a business organization, it takes advantage of the vast amount of users it has and primarily relies on advertising as a means to earn revenue.

Online advertisements, product selling, and much more make Facebook an effective online source of multiple products and services while largely remaining as a social media platform over anything else.

How does Facebook market advertisements and track its users? Primarily, they utilize “cookies” that collect certain data from people and are utilized under extreme scrutiny so that the information will not be mishandled.

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The cookies are then used to maximize the potential advertisement that would later on pop up on a user’s newsfeed via the timeline and the right side of the site for computers, while ads only appear shuffled in the newsfeed for tablets and phones.

There are multiple options for advertising on the social media giant.

  • There are paid advertisements that are self-serving and others that are engagement.
  • Self-serving ads are paid promotions that can be initiated for personal advertising. Through this, people may personally create their own ads catering to specific people.
  • Engagement ads, on the other hand, are from large companies aiming to reach a broad audience for a certain brand promoted. They are much more expensive than self-serving ads.

Evolution and features

12 years since its creation as an exclusive social media site, it has tremendously grown over the years with the Facebook team continuing research for the platform’s evolution. New features make Facebook more exciting to use and multi-faceted.

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The very basic setting Facebook has is the newsfeed where users may post text, photos, videos, links, and even gifs to their heart’s content. This lets user enjoy a wholesome experience when posting, limited only by the experiences they post.

There is also a gallery, an area where people may keep the posted photos and videos if ever they or their friends would want to look back and like, share, or comment, the three basic features. Currently, Facebook has introduced “memories” where certain posts exactly a few years back are shown, prompting whether the user wants to post them

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Notes was introduced at the early stages of Facebook on 2006, which rapidly grew in attention as a blogging area. This was an attempt from the site to increase its users’ interest as bloggers aside from posters.

Events is a popular feature that lets people create pages for any special events that might happen soon, effectively letting people know that something’s brewing. It may also pop up if it is publicly posted to let people nearby know or if they’re invited.

Places is also a feature widely used for letting people know where they are. Introduced and implemented in 2010, it is still widely used to notify family and friends where they are and what they’re doing.

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Facebook Live, introduced in 2010, was a great addition that helped celebrities and famous personalities reach out with their fans live. This has also helped with news-sharing as important events are directly shown on the social media site, effectively gathering people who have no access to cable television.

The Subsidiaries of Facebook

As a large company, Facebook has made several acquisitions that are growing through their own developments.

Instagram

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A social media giant that primarily manifests through photos and videos, people may share their experiences by taking photos of whatever they see under the sun and afterwards, post process them with filters. People may also follow other users, like their photos, and tag their current location.

Released in October 2010, it quickly grew in popularity for its uniqueness. By December, it already had 1 million registered users. In 2012, Facebook acquired the social media platform for about $1 billion in cash and stock, letting it retain independence but with closer ties towards each other.

WhatsApp

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It is a cross-platform messaging application that lets users interact with others through smartphones. It is a unique platform that uses the internet to send text messages for free to the users’ contacts.

In February 2016, it was named the most popular messaging app for 1 billion users. Released in 2010, it has grown in popularity for its free messaging and calling services. In 2014, Facebook had acquired the application for $19 billion, its largest up to date.

Oculus VR

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The history of Oculus virtual reality started as a Kickstarter campaign in 2012 that quickly grew in popularity for the public’s hope for an elevated gaming experience. After a few promotions and due to high public expectation, it raised $2.5 million from the campaign and had the project up and running.

In March 2014, Facebook acquired Oculus for $2 billion. From then on, the company has been growing and building its momentum towards development and further research on the potentials of virtual reality in the future of gaming and social media.

Benefits and criticism

Facebook is currently the biggest social media platform in terms of popularity and number of users worldwide. The benefits of the social media platform are immense, ranging from messaging to connections outside the net. It has helped connect people from all over the world, where families now have access to their relatives disregarding their long distances.

People may create events in nearby or far places, livestream important national and international events, help create groups for circles of friends and educational study groups for school, and promote their own products or services to help grow their personal or company businesses.

Through the advantages, there has been a lot of criticism surrounding the privacy and security of Facebook. The site has been accused of aiding groups of revolutionary organizations including ISIS, and has been accused of helping stalkers track people through their own personal pages.

Several users also quit the social media site as privacy concerns grew over time, stating the need for better measures to beef up its protection from outside hackers. There are also issues of dissatisfaction in services and social concerns stemming from addiction and growing lack of socialization outside the site.

Things you might not know

An interesting fact is the fact that Facebook is blue because Mark Zuckerberg is red-green color blind, and that he sees blue the best, which he says is the richest color. This has then wound up with the Facebook people are comfortable and now accustomed to.

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Facebook is not called a social media powerhouse for nothing. In fact, it is very valuable for its unquestionable service for its users globally. For all of its market shares, the site is worth a staggering $190 billion, having a revenue of $17.9 billion just last 2015.

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