Facebook Success Story

By | November 16, 2021
Facebook Success Story

When we talk about the online success stories of the 21st century, we can’t ignore to include incredible growth and worldwide change that Facebook has achieved. A website which is founded in 2003 by the students of Harvard University has gone to become one of the Internet’s top businesses with over one billion members as of 2012.

Facebook Success Story

  • Full Name: Facebook
  • Founded:2004
  • Founder: Mark Elliot Zuckerberg
  • CEO: Mark Elliot Zuckerberg
  • Industry: Internet
  • Sector: Public
  • Country: USA
  • Website: facebook.com

The early Facebook was founded by Mark Zuckerberg, Eduardo Saverin, Chris Hughes, Dustin Moskovitz, and Andrew McCollum in a Harvard dorm room. The early Facebook was not like today’s famous social network’s current website. The original website was highly controversial because of a new ‘hot or not’ type of application for Harvard University. Initially, Harvard administrators gave critical feedback to the website due to Zuckerberg’s policy of stealing images from the school’s records. Zuckerberg thought to fill the website with a large number of users and for that he hacked into Harvard’s record server and took all of the year’s student photographs with him, adding them to the site’s or not’ area.

Vamware

This worked and the website blew up in popularity with over 20,000 views in its first four hours of operation. But when Zuckerberg and his co-founders realized the potential that the website had as a social connections tool they looked at funding options that could help them to grow their website for national as well as an international success.

Facebook

Their strategy worked again and they got their first investment of $500,000 from Peter Thiel, a San Francisco-based investor that had increased his worth on dot-com pioneers including PayPal. Till now, the entrepreneur saw that the website has much more potential and they decided to assign a small founding team as an investment that quickly turned into several billion dollars.

Facebook was growing up and up by initially attracting members from Ivy League universities and then they covered all universities in the United States. The website was started accepting users with their own .edu email address and expanded eventually to allow anyone in the United States to join and then to allow everyone in the entire world to sign up.

Now it was the time when Facebook had its rapid growth that resulted in pressure from investors like Thiel to grow the revenue and website then quickly invented its non-intrusive advertising solution which named ‘Facebook Flyers’  in 20017 to expand its revenue growth. This company is now one of the largest sellers in the display advertising market in the entire world.

Facebook has brought a revolution in the world of social media by creating tens of billionaires, hundreds of millionaires, and an online platform where hundreds of millions of people around the whole world can quickly and easily connect with each other. In just nine years, Facebook forced everyone to write their success story with this innovative dorm room start-up that has reached over a billion people with its open communications.

Facebook’s success is truly remarkable and a great example of the internet’s potential for rapid growth, success, and real change, when you consider its history as a simple tool for rating students’ attractiveness. Facebook’s controversial history at Harvard, the battles between its founders for equity, its current status as one of the most popular websites on the internet, and the fast growth of the service as a communications tool all are remarkable and played an important role in the success of Facebook.

In the latest achievement of Mark Zuckerberg is that they announced to acquire WhatsApp Inc. by Facebook on February 19, 2014, for US$19 billion.

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