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Facebook

Facebook

Facebook is a social networking platform.

Facebook was founded in 2004 by Mark Zuckerberg, Andrew McCollum, Chris Hughes, Eduardo Saverin, Rob Jagnow, Dustin Moskovitz, and Nicholas Daniel-Richards while studying at Harvard. It enables users to connect with family and friends to share pictures and written text or place ads.

History

Before founding Facebook, Mark Zuckerberg created and published a website called FaceMash in October 2003 for rating the attractiveness of students at Harvard. FaceMash quickly gained popularity reaching approximately 22,000 photo views within a few days of its launch before being shutdown. Zuckerberg was summoned to the Harvard Administrative Board and threatened to be expelled from Harvard for creating FaceMesh because he did not have permission to use student photos. The Harvard Administrative Board made the decision to let Zuckerberg continue his education at Harvard, and Zuckerberg went on to create Thefacebook in February 2004 with some of his fellow students at Harvard; Andrew McCollum, Chris Hughes, Dustin Moskovitz, Eduardo Saverin, and Nicholas Daniel-Richards.

Thefacebook was the name of the company until August 23, 2005 when the company purchased facebook.com for $200,000 and changed its name to Facebook. Other domains purchased by Facebook include FB.com for $8.5 million in November 2010 from the The American Farm Bureau Federation to give Facebook employees FB.com email addresses. The deal for FB.com also included The American Farm Bureau Federation relinquishing their rights to use FB.org.

Notable acquisitions
Instagram

On April 9, 2012 Facebook acquired Instagram, a social media company focused on sharing user photos, for $1 billion in a combination of Facebook stock and cash. At the time Facebook acquired Instagram, Instagram had approximately 30 million active users making Instagram the largest purchase ever made by Facebook in terms of both active audience size and price. Mark Zuckerberg, the CEO and co-founder of Facebook, made the following statement regarding the company's decision to purchase Instagram:

We don't plan on doing many more of these, if any at all, but providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together.
WhatsApp

In February 2014 Facebook acquired WhatsApp, a company offering a social messaging platform, for $19 billion. Facebook made the acquisition as a defensive investment after analyzing WhatsApp data and determining WhatsApp's ability to compete with Facebook. Facebook awarded 177.8 million shares of Facebook of Class A common stock, $45.9 billion in cash to the shareholders of WhatApp, and 45.9 million restricted stock units the the employees of WhatsApp. At the time of acquiring WhatsApp, the WhatsApp platform had approximately 450 million users, was gaining about 1 million users everyday, and according to OnDevice Research was the worlds most popular smartphone messaging application.

Oculus

In July 2014 Facebook announced acquiring Oculus, a company making virtual reality products, for $2 billion. Facebook paid $400 million in cash and approximately $1.6 billion in Facebook stock. Facebook also announced offering an additional $300 million in stock and cash if certain milestones are met by the company post-acquisition as performance incentives. The $2 billion acquisition price of Oculus is based on a trading price of Facebook stock at $69.35 per share. Mark Zuckerberg, the CEO and co-founder of Facebook, made the following comments regarding Facebook's decision to acquire Oculus and Facebook's plan for the company:

We’re going to focus on helping Oculus build out their product and develop partnerships to support more games. Oculus will continue operating independently within Facebook to achieve this.

Timeline

April 19, 2021
Facebook announces a new feature that will allow users to export their Facebook posts and notes to a number of third-party services.

April 15, 2021
Facebook announces that it exceeded one of its biggest environmental goals: it slashed its greenhouse gas emissions by 94 percent in 2020.

Last year, it launched a "Climate Science Information Center" in some countries.

April 1, 2021
Facebook launches profile frames that help you encourage friends to get the Covid-19 vaccine
March 10, 2021
Facebook launches Instagram Lite in 170 lower bandwidth countries.

March 9, 2021
Facebook announces that it is rolling out the ability to create and share Instagram Reels on the platform.
January 11, 2021
Facebook hires Roy Austin to become its first-ever VP of Civil Rights and Deputy General Counsel to create a new civil rights organization within the company.
December 16, 2020
Facebook launches revamped Instagram Lite app in India.

December 1, 2020
Facebook announces it will pay big media outlets in the UK to license their content as part of a new, dedicated news tab feature.
November 30, 2020
Facebook announces it is acquiring Kustomer, a startup company that specialises in customer-service platforms.
November 19, 2020
Facebook says it has launched new artificial intelligence (AI)-powered systems to help detect misinformation on its platform.
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Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Facebook Series B round
27,500,000
April 1, 2006
12 Results
Results per page:
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Products

Product
Description
Website
Launch date
Industry

Facebook Messenger (commonly known as Messenger) is a messaging app and platform owned by Facebook.

1 Result
Results per page:
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Acquisitions

Acquisition
Acquired company
Acquisition amount (USD)
Date announced
September 23, 2019
17 Results
Results per page:
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People

Name
Role
LinkedIn

Aaron Morris

Investor

Adam Gold

Investor

Adnan Khan

Investor

Agustin Gonzalez

Investor

ajtest account

Investor

Akshay Rustagi

Investor

Alex Fries

Investor

Alexander Davis

Investor

Alexander Wolfson

Investor

Ali Khan

Investor

Alin Skurtu

Investor

Alison Leigh, Ph.D, MFT, Sex Educator, Organizational Psychologist/

Advisor

Allan Kaplan

Investor

Amar Chokhawala

Investor

Amitt Mahajan

Investor

Anand Rajaraman

Investor

Andrea Zurek

Investor

Andrei Miulescu

Investor

Andrew Camel

Investor

Andrew McCollum

Founder

Andrew S. Kofman

Investor

Anida D

Investor

Anthony Lawrence

Investor

Anthony Marlowe

Investor

António Mello Campello

Investor

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Further reading

Title
Author
Link
Type
Date

Facebook is building brain-computer interfaces for typing and skin-hearing

Josh Constine

Web

April 19, 2017

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
By DAVID KLEPPER and NEHA MEHROTRA
May 14, 2021
AP NEWS
NEW DELHI (AP) -- The man in the WhatsApp video says he has seen it work himself: A few drops of lemon juice in the nose will cure COVID-19."If you practice what I am about to say with faith, you will be free of corona in five seconds," says the man, dressed in traditional religious clothing.
Lavender Baj
May 14, 2021
Gizmodo Australia
An artist and designer has taken it upon himself to map out the internet like a planet and the result is absolutely incredible.
Rachel Metz and Sara O'Brien, CNN Business
May 14, 2021
CNN
Apple parted ways with a new employee this week after thousands of workers petitioned the company to investigate how it hired the man, who had previously published an autobiography they said contains misogynistic statements.
Rachel Metz and Sara O'Brien, CNN Business
May 13, 2021
CNN
Apple parted ways with a new employee this week after thousands of workers petitioned the company to investigate how it hired the man, who had previously published an autobiography they said contains misogynistic statements.
Lauren Johnson
May 13, 2021
Business Insider
Insider's top advertising and media stories for May 14.
Cal Jeffrey
May 13, 2021
TechSpot
As we have previously reported, as of May 8, iOS 14 users have said no to apps asking permission to collect their data 96 percent of the...
Martina Bet
May 13, 2021
Express.co.uk
BITCOIN and the 'Wild West' cryptocurrency markets are coming to an end as a result of the spotlight brought by Facebook's Libra project, a forensic accountancy firm warned.
Topgolf Entertainment Group
May 13, 2021
www.prnewswire.com:443
/PRNewswire/ -- Global sports and entertainment leader Topgolf Entertainment Group will introduce its technology-enabled entertainment experience to the...
By BARBARA ORTUTAY and MATT O'BRIEN
May 13, 2021
AP NEWS
Suppose you were Mark Zuckerberg, recently ordered by an advisory board to decide how long former President Donald Trump should stay banned from Facebook.
BARBARA ORTUTAY and MATT O'BRIEN AP Technology Writers
May 13, 2021
ABC News
Suppose you were Mark Zuckerberg, ordered by an advisory board to decide how long former President Donald Trump should stay banned from Facebook
Rosalie Chan
May 13, 2021
Business Insider
The JavaScript open-source project Babel -- used by companies like Facebook, Netflix, and Airbnb -- says it has only a few months of funding left.
Katie Canales
May 13, 2021
Business Insider
The report comes after 40 state attorneys general signed a letter urging Mark Zuckerberg to abandon his plans for a kid version of Instagram.
The Ad Council
May 13, 2021
www.prnewswire.com:443
/PRNewswire/ -- As part of their COVID-19 Vaccine Education Initiative, the Ad Council and COVID Collaborative today announced dedicated efforts speaking to...
National Coordinating Center for the Regional Genetics Networks (NCC)
May 13, 2021
www.prnewswire.com:443
/PRNewswire/ -- The National Coordinating Center for the Regional Genetics Network (NCC) is excited to announce the second annual Public Health Genetics Week...
Tinuiti
May 13, 2021
www.prnewswire.com:443
/PRNewswire/ -- Tinuiti, the largest independent performance marketing firm across the Triopoly of Google, Facebook, and Amazon has been named to Inc....
The Harris Poll
May 13, 2021
www.prnewswire.com:443
/PRNewswire/ -- Companies with a clear point of view and that deliver not only great products but also an impact on society have the best reputations. Those...
Kate Duffy
May 13, 2021
Business Insider
Wellness coaches for Facebook mean well, but "you don't always feel like singing ... after you've seen someone battered to bits," one moderator said.
Sowmya Ramasubramanian
May 13, 2021
The Hindu
Social media has played a crucial role in helping connect people with urgent COVID-19 requirements
Saumya Tewari
May 13, 2021
mint
Facebook says it has developed six tips to fight covid-19 misinformation which will show up on Facebook through a series of creative adverts, and link out to a microsite
Tanya Dua
May 13, 2021
Business Insider
Facebook and other experts had warned advertisers of disruptions to their ad campaigns and given guidance on how to work around them.
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References

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