What is Facebook? - The Most Powerful Social Media Platform

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What is Facebook?

Facebook is a Social Media Platform and the world's largest content platform which connects people across the world. More than defining it as a social media platform, it's an eco-system that connects the entire world virtually.

History

Facebook is founded by Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, Chris Hughes on the 4th of February 2004. Initially, Facebook was only accessible for the Harvard University students, and later on the platform was accessible for other universities in the USA and some universities in the UK also.

The features of Facebook grew day by day where it attracts the user's attention and to do creative things in the platform itself. After bringing the platform to live in Harvard dorm room, Mark Zuckerberg took the company to Palo Alto after meeting the Napster co-founder Sean Parker in mid-2004.

After moving to Palo Alto, Facebook received the first official institutional investment from PayPal co-founder Peter Thiel. Facebook dropped the "The" in the name of Facebook and moved to the domain of Facebook which they use at the moment in 2005.

Facebook received the second investment in 2005 from the Accel Partners of a value of $12.7 Million and Jim Breyer added a $1Million of his personal money to the startup which was only a year old.

The magic happened in 2006 in September 2006, when Facebook gave the general public to create an account on Facebook under two conditions which were to be aged above 13 years old and need to have an email account.

Facebook when public after filing the initial public offering or the IPO on NASDAQ on the 1st of February 2012 and holding the initial public offering on 17th May 2012 at a negotiated share price at $38 per share. Facebook claims the position of the largest valuation to date for a newly listed public company in the history of NASAQ stock exchange which valued the company at $104 Billion.

Facebook has acquired multiple organizations to date which includes WhatsApp, Instagram, Oculus VR and etc...

Who Uses Facebook?

Usage of Facebook is wide compared with many social media platforms in the world. Facebook is used by individuals, businesses, charities, and almost all types of organizations in the world with different intentions.

Individuals like normal human beings use Facebook to connect with others and to exchange information and to leave updates about themselves. Celebrities use Facebook to be popular and to share the content which they produce. News and media companies use to share the content that they produce and to gain more hits to their destinations.

Small, medium, and large enterprises use Facebook to advertise their products to the target audience to execute marketing campaigns. Charities to showcase about the cause that they want to make more awareness, uses Facebook.

Apart from the above points, there are many parties that uses Facebook for many reasons, and for many objectives.