School of Business and Management
MT460 Management Policy and Strategy
Author: Tosha Collins
Professor: Dr. Karli Peterson
Date: January 22, 1970
Facebook (originally "The facebook") is a social networking website launched in February 2004 by Mark Zuckerberg, then 23, while studying psychology at Harvard University. Membership was initially limited to students of Harvard College, but soon the social site was subsequently extended to other Boston universities, the Ivy League and eventually all US universities (Yadav, 2006).
It became Facebook.com in August 2005 after the site's address was obtained for a relatively meager $200,000. By the end of the following year it was also open to high schools. As of September 2006, Facebook was extended beyond educational associations to anybody with a registered email address. They have over 175 million active users worldwide currently and are growing every day.
Facebook’s mission statement seems simple: “Facebook’s mission is to give people the power to share and make the world more open and connected (Reagan, 2009). Twitter still no business model but it has a new mission statement: “To instantly connect people everywhere to what’s most important to them.”(Evans, 2011). Who is better than who? Or one could say who is going to be the king of the hill? Facebook has tried to purchase Twitter with no success. It is hard to say who will come out on top or who will be the ultimate winner of the social war.
There are some key differences between the sites (Lacy, 2009). It’s far easier to find people on Facebook and most of the time you can tell if it’s actually them. Facebook and Twitter are both free sites and are both popular. Facebook and Twitter are both time conversations, but Twitter is a little faster. They both seem to have their good and bad qualities. Twitter has a character restriction and has... [continues]
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