The world has become a smaller place today, thanks to Facebook. It is a social media networking service that enables people across the world to connect with each other. Started by
a bunch of Harvard undergraduates as a fun idea, the website has developed into proportions which its founders would have never even imagined.
Founding Date: February 4th, 2004
Company Name: Facebook, Inc.
Country: Menlo Park, California, USA
Company Website: www.facebook.com
The Beginning of Facebook
The idea of Facebook took shape in a dormitory of the Harvard University. Mark Zuckerberg, a student, created a program that was more like a game where the user was asked to compare any two random images of students and pick the “hotter” one. The images for this were acquired from the Harvard files that contained the pictures of the students. For the purpose, Mark hacked his way through confidential files.
Once the site was ready, Mark forwarded it to various list servers on the campus. However, the authorities soon got to know about this. They banned the site and Zuckerberg was charged for violation of security and copyrights.
However, Mark was not one to be bogged down with these challenges. He soon worked to expand his project and uploaded Augustan images to it before sharing it with his fellow students. This time, he even added a comments section to allow the users to share their ideas. The project was highly applauded which gave Mark a new idea.
He started writing a code to launch a website that would allow the students of Harvard to connect with each other in virtual space. It was called Thefacebook and was launched on February 4th, 2004. Within a month of its launch, half of the Harvard students had registered accounts on the site.
However, the access to this site was given only to the students of Harvard. Its success prompted Mark to expand the website further. His friends Dustin Moskovitz, Chris Hughes, Eduardo Saverin and Andrew McCollum joined him to help him with the expansion process.
In March 2004, the site was opened to the students of New York University, Boston University and Ivy League colleges and various other universities in USA and Canada. The website had by then gained huge proportion and had become more like a company. Their advisor Sean Parker came onboard as the President.
In June 2004, Thefacebook moved its operations to California and soon they got their first ever funding of $500,000 from Peter Thiel who is the founder of PayPal. In the year 2005, the company bought a domain called facebook.com.
The website became so popular that its investors started pressurizing it to expand its reach by allowing more users and enhance revenues through advertising. The company finally came up with an idea that would enable them to improve its revenues without the advertisements intervening with the browsing process.
Impact on Users’ Life
Facebook has not only changed the life of its founders but also of its users. The website has helped people to grow into billionaires and millionaires. Just within nine years of its launch, the company has grown to become a community of billions of users. Facebook has also acquired Whatsapp Inc., which is a mobile application working to connect people.