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Technology has allowed the internet to become a big asset in today’s modern time. It has become easier for people to do anything from shopping online to networking online. There are many networking sites out there such as Myspace, Twitter, and Linkedin. However, one company that has grown in popularity is Facebook. Facebook is a social networking website where people can keep in touch with old friends, meet new people and other activities. It allows people to put their personal information on it, update their status, and upload pictures as well. In order to keep the privacy of users safe, the company allows users to control the amount of privacy they want to have on their page. For example, users can decide to make their uploaded pictures to be viewable or not viewable by the public.
The company was first created in 2004 by Mark Zuckerberg. Zukerberg attended Harvard university, and it was there were he began working on his project for fun. Later when he became a bit more serious with the website, Eduardo Saverin began helping him financially to help the site get started. When first started, his networking site was known as thefacebook, but after some redesigning, it changed its name to facebook. Its main headquarters is deep in the heart of Silicon Valley in Palo Alto California It has over 8 million users and is located in various countries around the world. The majority of students are usually high school and college students. These users have allowed the company to have a net worth of over $500 million. The main way it earns money is through ads companies post on the website. Advertisers pay the company through the amount of times their respective ads are viewed by users. Because of the company’s growing success, it has decided to start its’ own email service for users. It has been said that their email service would compete with Google’s email service. Also recently, a movie titled “The Social Network” has come out in 2010. This movies shows the history on how the company first came to be. Throughout the movie, Zuckerberg was portrayed badly in the movie. As a way to help image, Zuckerberg donated $100 million dollars to New Jersey public schools.
How companies use Facebook
Many companies are aware of the growing popularity of facebook and have capitalized on it. One way they do this is by placing their ads on the website. They pay the company by either the amount of time their ads are viewed or clicked-on. Aside from placing ads many companies have also opened their own facebook accounts. Through their accounts, they update customers on specials and discounts that are available at their company. Kohl’s is one company that does this. Kohl’s frequently posts many things that are happening to the company as a way to keep their loyal customers informed. Because of this strategy, it has over 100,000 followers. Many other companies do this as well such as Target and JC PENNY. Aside from promoting, companies also use Facebook to look up potential employees. Companies these days have a public image to uphold. When a company is interested in someone to work for them, they can search for that person and see if he or she has any images that might make the company look bad. If the user does not properly set his/her privacy rules, it would make the company’s task of looking through that person’s profile all the easer.
The company has faced many issues since it first started up in 2004. This includes various lawsuits over who came up with the actual idea of facebook as well as internal problems. The company has also come under fire about its privacy protection. Despite all the protection it has, the site has been hacked numerous times allowing hackers to steal users' personal information. This has been a growing concern for the company over the years its grown and has forced it to create new privacy options for its users. Even with this, though, people want the company to do more to protect their personal information from getting into the wrong hands.
Although many networking sites exist, non are as popular as facebook. Zuckerberg was able to take an idea and make it much better than it's counterparts. This has allowed the company exponientially during the six years it's been in business. Although it has its issues, the company continues to grow. A soon to come email service is proof of this. With such growth in a short time, one can only wonder what this company will do next.