Facebook is now a major part of our lives. We can’t really imagine our lives today without checking on what our friends are doing and what they have bought lately, right? Let’s face it! When people think of the internet, they immediately think about Facebook and Google, and maybe Amazon. It has become a major part of our lives that can’t be ignored or not used.
Today Facebook is big, but it wasn’t always the case, like most companies, it started small, very small, in a Harvard dormitory, back in 2004. Let’s see!
On Facemash, other students from Harvard could vote Hot or Not Hot on their fellow student-girls. Mark hacked into the school’s ID files and retrieved all the pictures of the girls from Harvard’s dormitories. Facemash amounted to 22,000 views in the first four hours. It was taken down by Harvard because of copyright and security issues.
Image source: Facebook/Mark Zuckerberg
Image source: Wikipedia
These three Harvard students, apparently, made an agreement with Mark Zuckerberg to build a social site for them, named HarvardConnection.com, but the CEO of Facebook abandoned them and build TheFacebook.com. The Winklevosses together with Divya Narendra sued Zuckerberg for stealing their idea, in 2008, and the lawsuit was settled for 1.2 million Facebook shares that were worth around $300 million on Facebook’s first IPO.
In March 2004, Thefacebook who had initially been opened as a social network only for Harvard, expanded to Yale, Columbia and Stanford. Mark Zuckerberg gathered together a bunch of his fellow students to help him grow the site to its big potential. Dustin Moskovitz, Eduardo Saverin, Andrew McCollum and Chris Hughes went on board.
But, in 2004, Mark Zuckerberg left Harvard to work on TheFacebook.
Sean Parker was Facebook’s first president.
Image source: Andrew Mager / Wikimedia Commons
As you can see, it was both a company and a party hub
It was a sum of $500,000 that came from Peter Thiel and Elon Musk, then the founders of PayPal.
By May 2005, Facebook had raised about $13.7 million from outside funding. In 2006, Facebook launched its News Feed. It was a real breakthrough and became the center feature on Facebook
Mark Zuckerberg met Sandberg at a Christmas party and decided she was the best fit for the position of COO and stole her away from Google. By 2010, Sandberg managed to make the company profitable.
The company reached, at this stage, more than a trillion page views a month.
Image source: TechCrunch
It was the first time Facebook showed that it could play a major role in global politics
This is just 8 years after it was founded.
Image source: Ben Barry
They had been together ever since Harvard
Over the years, Facebook made sure they bought all the competitors that could stay in their way. In 2012, Facebook bought Instagram for $1 billion.
Cofounder Jan Koum joined Facebook board after the deal and Whatsapp, now, has more than 1 billion daily active users
Image source: Screenshot/Entrepreneurship Corner
Menlo Park, California is now the headquarters of Facebook and it was built to accommodate more than 2,800 employees.
Through this limited-liability corporation, Zuckerberg would contribute 99% of his wealth to reinvest in world-changing causes
The way he has structured the company is giving him full control and unlimited voting power over anything that happens at Facebook
This year, it was found out that a firm named Camdridge Analytica managed to collect personal data from more than 87 million Facebook users. The scandal that followed ended up with Zuckerberg summoned in front of the US Congress. Now, Facebook and its founder are under scrutiny and a lot of pressure as the world is getting nervous at how much personal data they have shared so far.
via: business insider