Facebook is a website for social networking, Facebook can be compared with sites such as MySpace or the Dutch Hyves.
Once users register themselves at Facebook, they can create a personal profile. With this profile they can search for friends or people they know and add them to their profile as friends, you have also the option to join user groups with common interests created by personal users, schools, colleges, companies etc.
Mark Zuckerberg founded Facebook at February 4, 2004. Other persons that were involved with setting up Facebook were Eduardo Saverin, Dustin Moskovitz and Chris Hughes. The website was initially meant to be used only by Harvard students only but soon expanded to other colleges in Boston. It rapidly expanded to other universities after this phase and Facebook started to allow high school students to register and eventually to everyone over the 13 years old.
Facebook as a global company
Facebook is momentarily one of the fastest growing companies, which has registered more 800 million users worldwide. Only a small part of this is located in Facebook’s home country: America, only 25% of the registered users are located in America so that means there is another 75% left global. 40% of these users are not speaking English.
The state with the most users registered on Facebook is streets ahead of the rest with an amount of 15+ million users being on Facebook, this is a 41% penetration and means that nearly half of the people living in California is using Facebook, in second is Texas with 9 million users and New York with 8 million users
This all means that Facebook has to be available in multiple countries, and because of that they now have Facebook available in more than 70 languages, 5 of these languages are Indian including Tamil, Punjabi and Hindi.
Facebook as a private business
Facebook is a private business and has no plans to go public anytime soon, since they find that being private is better and still want to take some big risks.
Also businessinsider.com had the following interview, which tells a lot about why Facebook wants to stay private:
"Facebook will not hit the public markets "anytime soon," says CEO Mark Zuckerberg on Facebook, using the sites new question and answers feature. The reason: Facebook wants to take "big risks," with new products that might come under harsh scrutiny from the public markets. "Being private is better," says Zuckerberg.
Another benefit to staying private for Facebook? The company is pre-IPO, which is very seductive for potential hires. Facebook has managed to hire away many Google employees of late, using (in part) the allure of getting rich once Facebook hits the markets".
Facebook is in the tertiary sector
Facebook is in the tertiary sector because it offers services to the customers and is in no way selling products or making them, this also include things as offering advertisements, also the internet in general is in the tertiary sector since it only able to offer services and no products, the only exception that can be made to this are web stores. These sell physical products online.
Is Facebook a profit or non-profit company
Facebook definitely is a company that makes profit, the profit that was estimated for Facebook for the 5 years is:
* 2006: $52 Million
* 2007: $150 Million
* 2008: $280 - $300 Million
* 2009: $600 - $700 Million
* 2010: $2 Billion
* 2011: Estimated to Surpass the $4.2 Billion
How does Facebook make such a profit when it is free for everyone? Well, the biggest part of their profit comes from the advertisements that appear on the right sides of the screen of every facebook page.
And one of their fastest growing ways of making moneys are the applications for Facebook, for example a game like "Farmville" with 80 million players who can use their real money to pay for in game items, has to pay a rental...
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