One of the first social networking sites to be publicly traded on Wall Street, Facebook has become one the largest social networking sites. Used worldwide by over a billion users to connect with friends and family. Over time, Facebook has developed many assets to its growing industry by offering advertising, games, and many other opportunities. Facebook has its flaws as many businesses face. With the constant updating and security features, Facebook continues to make strides for their users to remain safe and out of harm’s way. Throughout this paper, it will be discussed of how Facebook began, its growing pains, how it has profited, and where Facebook is going in the future. Introduction
Founded in 2004 by Mark Zuckerberg, the programmer, and his fellow classmates, Eduardo Saverin, business aspects, Andrew McCollum, graphic artist, Dustin Moskovitz, programmer, and Chris Hughes, all who were students of Harvard University; created a place where other Harvard University students could communicate and engage in conversations with each other. Mark Zuckerberg hacked the facebooks Harvard used to help students identify each other, and this is how facemash.com started. Initially Facebook was called Facemash and was launched on October 28, 2003 during Zuckerberg’s second year in college. The site used private dorm photos of students and other students had to rate two pictures as hot or not. This new site attracted 450 visitors that view photos more than 20, 000 times in the first four hours. Days later it was shut down, and Zuckerberg was charged with breach of security and privacy by Harvard administration. Later down the line the University dropped the charges. This was not the last time Zuckeberg faced charges. The next charge came from three fellow Harvard students named Cameron Winklevoss, Tyler Winklevoss and Divya Narendra who state Zuckerberg stole their idea for HarvardConnection.com. The issue started due to the students had expectations that Zuckerberg was going to assist them with building HarvardConnection.com, but used their idea to build the competition. An investigation was initiated by The Harvard Crimson and was later settled. Since Facemash was not successful, Mark Zuckerberg expanded the project and turned it into a social study tool. He uploaded 500 Augustan images to a website with one image per page. He created this to prepare for and art history final. He’s classmates started sharing their notes on the class and helped Zuckerberg receive a good grade in his class. Zuckerberg decided from this point that he wanted to create something that would allow Harvard to open up. January 2004, Mark Zuckerberg started writing a new code for “thefacebook.” Mark was inspired to make Facebook due to the unsuccessful trial run of Facemash. February 4, 2004 thefacebook.com made its debut run. Within twenty-four hours, they had around twelve hundred and fifteen hundred registrants (Cassidy, 2006). Membership was initially offered to just Harvard University students. The first month thefacebook.com had half the undergraduate population registered. March 2004 Facebook allowed other college students to participate on Facebook like Stanford, Columbia, and Yale. This was the start of Facebook’s first expansion. Facebook ventured to all Ivy League schools and most universities in Canada and the United States (Rosmarin, 2009). Facebook eventually became incorporated in the summer of 2004. Sean Parker became Facebook’s first president due to Parker was an entrepreneur that had been informally advertising for Zuckerberg (Rosen, 2005). June 2004 Facebook moved its headquarters to Palo Alto, California. They later dropped the “the” from the name and purchased the domain name facebook.com in 2005 for $200,000. October 1, 2005 Facebook was now on the campuses of twenty-one universities in the United Kingdom, thirty-one campuses in Mexico, Puerto Rico, and the Virgin Island. Facebook was...
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