Briefing Floating Facebook; the Value of Friendship

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The article “Briefing Floating Facebook; The Value of Friendship” (2012) illustrates Facebook’s incredible operational and financial success in the past few years. It also points out many problems and challenges during Facebook’s business growth. Facebook’s achievement and success from this article are summarized in the following paragraphs. Mark Zuckerburg, the founder, CEO and major shareholder of Facebook established Facebook, an online social network service company in 2004. Facebook quickly and efficiently attracted more than 800 million users, and earned net profit of 1 billion dollars in 2011. Facebook is recognized as an exciting fast-growing company. When internet and smart phones are commonly used today, Facebook successfully gained most users’ online spending time than any other sites including Google. Users on Facebook are not limited to basic texting, photos and video sharing. The advanced Facebook platform also offers news feeds, online movie and games, and numbers of other creative and interesting “add-on apps”. Facebook is recognized as a “one-stop-for-all” site. With millions of users, Facebook essentially becomes an advertising vehicle and attracts numbers of advertising agents. The enormous amount of advertising earnings makes Facebook to be an estimated 100-billion dollar value company, much more than when it first started a few years go. Starbucks, which is one of Facebook’s clients, experiences considerable success in its advertising campaign. Facebook is also effectively expanding markets internationally. For example in India, Brazil and Russia, Facebook has quickly taken over major market shares in the online social network industry. Different from local social network sites, Facebook is enabling users to connect with each other globally. This results in Facebook having an absolute competitive advantage among the local competitors. Innovative online social network brings Facebook amazing growth in revenue and market...
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