The original founder of Facebook and CEO is 24 year old Mark Zuckerburg. Mark and 3 of his roommates created Facebook while attending Harvard University and launched the site on February 4, 2004 from their college dorm room. Forbes Magazine named Mark “the world’s youngest self-made billionaire” being worth an estimated $1.5 billion due to his creation of the popular website.
This is 41 year old American entrepreneur and Co-founder of Pay Pal Peter Thiel, who was the first person to invest in Facebook. It’s said his original investment in the social networking site in June 2004 was about $500,000 and as far as I know Peter still owns shares in that site.
A Country That Doesn’t Allow Facebook
I found this fact kind of interesting but also weird. Syria security was concerned to stop a spam campaign that used Facebook to promote false teaching to children about religion and war. Basically most articles I have read claim the country of Syria is afraid terrorist groups and so on have much easier times getting to their children on the social site. All I can say to this is in a way I understand but I’m glad I don’t live in a country that bans what social sites I can visit.
$12.5 Million Investor
The next big company to take a chance and invest in Facebook was Accel Partners. In May 2005, the company made an investment of $12.5 million then April 2006 Greylock Partners decided to invest $25 million in Facebook as well.
Within 4 years of launching Facebook, became the number 1 social networking site on the web but according to other sources it ranks 2 nd . Finally, in 2007 after seeing all the other major companies investing in Facebook, Microsoft contacted the owners of the site proposing an investment in return for 5% stake in the company. At the time they giant software company was offering up to $500 million for the investment. Owners of Facebook declined that offer but on October 24, 2007 Microsoft announced that they had purchased 1.6% of Facebook shares for the sum of $246 million.
Amount of Facebook Users and Applications
As most know, one of Facebook’s biggest downfalls is the applications that you’re requested to add every time you log in or do a quiz a friend has sent you. According to a study that was done in Nov 2007 there where over several thousands applications with another 100 being added daily. Crazy! In December 2007 to about the end of January of 2008, Facebook had seen its first drop in visitors in 3 years which was due mostly to the application spam within the site. The same study also showed that there were over 70 million daily active users to the site.
Pictures Uploaded Daily and Web Address Price
Most people who have an account with Facebook know the amount of pictures their friends post and so on but did you know that daily number of photos uploaded is over 14 million? I had no idea the number was so high but it does explain all the errors you encounter when using the site. Also the social network has been always named “Facebook” but it officially became Facebook.com in August 2005 when it purchased the web address for the sum of $200,000.
Failure of Google and Yahoo Buy Out
I don’t know how it came about but either Google and Yahoo where feeling threaten by the up and coming of the social network or they seen a way they could make a mass profit but in late September 2006 talks with Yahoo where underway and is rumoured they offered $1 billion to buy out Facebook where Google offered about $2 billion. Facebook owners where either holding out for more money or they realized they could make more in the long run from the site and decided to decline the offer from both sites.
Eleventh Richest Man in the World Invests In Facebook
This is Li Ka-shing also known as the World’s 11th richest man. This Chinese business tycoon has had his hand in a little bit of everything business orientated. He even had shares in Canada’s Imperial Bank of Commerce in 2005 which was worth about $1.2 billion. After following Facebook for a year the Chinese business man decided he wanted a part in the social networking site and on November 30, 2007 invested $60 million dollars.
Total Employees and Overall Value
In March 2008, Facebook had over 500 full-time employees on their payroll and according to other sources the total value of the company is now worth a easy $15 billion. Not too bad for a program a guy in his dorm room created from a project for school