Facebook is a blessing to our busy world and an easy way to stay connected with our loved ones. When compared to any other social networking site Facebook tops the chart. It is the best and easiest way to feel connected to your friends and share your thoughts. Facebook was launched in the year 2004 and since then there is no turning back for the company. It holds a strong position among the other big companies. Mark Zuckerberg, who was a Harvard student, at such a young age created history by inventing a social network “Facebook”. Initially the site was only used by the students of the Havard University to compare two student pictures and decide who is hot and who is not hot and in no time facebook became a world famous social network. Mark Zuckerberg is one of the wealthiest and famous people in the world. His wealth is estimated to be $33.1 billion.
How Rich is Facebook ?
Total Net Worth :- $ 32.1 billion (in 2016 as per Forbes)
Lounch : February 04, 2004
Founder : Mark Zuckerberg, Dustin Moskovitz, Eduardo Saverin
CEO : Mark Zuckerberg
Headquarter : Menlo Park, CA
Facebook employees approximately 6337 people and Facebook talent acquisition team is always busy hiring employees as the company grows. Seeing the rate of growth of the company we hope to see an increase in the number of employees every year.
It is unimaginable how Facebook’s first location looked like during its start up days as we know that the company Facebook was initially just a website for the students of the Havard University. Today it has an expansive campus in Palo Alto and is one of the best places to work at.
By looking at the incredible growth of the company we all are aware of its performance and it’s not hard to estimate the amazing turnover of the company year over year. Facebook’s profit scales up from each new user registering a new facebook account every second. Facebook’s revenue growth was stupendous with a consistent increase from 43% in Quarter 1 in 2014 to 82% in Quarter 2 in 2014.
Source of Income
As we know that Facebook is the best social networking site and nearly 1 billion people around the world is using this network to connect to their family and friends which does not involve any cost, so the question arises that what is the source of income for Facebook and how does it earn profits. Here is the answer, Facebook’s earning are from the Advertisement, applications and online currency where a person can buy online credits with a dollar and do online shopping or play games. We all are aware of the famous games like Farmville, Mafia Wars and very famous candy game. Facebook has teamed up with Amazon in 2010 to provide shoppers with purchase recommendation and birthday reminders which turned to be profitable decisions for the company. With such innovative ideas the company seems to have a long way to go and unimaginable profits. Since Facebook became available on any smart phone it has become more popular and has doubled the company’s profit. We hope to see more creative and innovative ways of communication in coming years from the company.