Today in 2004, Mark Zuckerberg first launched his iconic invention named, Facebook. The social media website was first built to connect Harvard students. But today, Facebook has ballooned and become one of the biggest platforms across the world. Recently it marked its first two billion daily active users.
If you are curious to know how its success came about, just scroll through. Here are five facts about its history that placed the platform where it is today.
1. In 2004, Google Tried To Purchase Facebook
Shortly after its launch on Feb. 4, companies began to notice Facebook's potential. Google, Microsoft, and Yahoo all expressed an interest in buying the app from Zuckerberg. All of them were unsuccessful in closing a deal with Facebook despite generous offers. Google specifically, tried to talk to the company several times in the summer of 2004.
Although Google never received a good deal, its investment offer of $15 billion valuation was accepted by Facebook. This was then beneficial to Facebook's reputation at that time.
2. In 2010, The Social Network Film That Portrays the Founding of Facebook Was Produced
The film follows the life of Zuckerberg played by Jesse Eisenberg as the Facebook founder. It then narrates how the idea started in 2003 when the Harvard undergrad wanted to create a social sphere with his fellow students in mind.
The plot thickens as he and his friends become the youngest billionaires ever. Their success then leads to both personal and legal complications. The Social Network won three Academy Awards and four Golden Globes.
3. In 2012 Facebook Bought Instagram and Two Years After, WhatsApp
Facebook paid $1 billion (£760 million) to buy Instagram in 2012. It also paid $19 billion to own WhatsApp in 2014. As part of its expansion plan, Facebook acquired both of these companies. Several advantages also presented themselves which became the main driver for Facebook to merge different platforms into one giant social media conglomerate. Some of these are consumer retention, increased stock valuation, and lower operational costs.
4. From 2010-2020, Facebook and Facebook Messenger Were Recorded to be the Two Most Downloaded Apps
Facebook dominated the mobile space for a decade. Given its messaging and entertainment platforms that are being used worldwide, the app has been downloaded multiple times too. The list of the recent top 10s also includes the company's other platforms like Instagram and WhatsApp.
5. In 2021, Facebook Changed Its Company Name to Meta
The new name reflects the company's plan to go beyond social media. It foreshadows their new target which is the metaverse.
The idea of the metaverse amounts to a world of online and virtual environments where users work, socialize, and play. It's a sci-fi term that reflects the vision of the company.
In its 19 years in the digital public sphere, Facebook- now Meta, received countless reports of violations and lawsuits. Some of these have been settled, some are still ongoing. Its years of being number one in the business may be something to celebrate, but also should be a reminder that with great reach comes great responsibility.
