Facebook is a social networking platform which most people use. Apart from connecting with
Old Friends and sharing love and affection to them, some people use it as an effective instrument
For Advertisements and business. Facebook uses some business strategies to attract new
Customers and new businesses and some of them are mentioned as below:
. Putting Facebook redirection links on famous websites which people use on a daily basis.
. Using the traffic of many identified websites by providing an option of logging into their
Respective accounts via Facebook credentials.
.Sending out an Email blast: Letting all people know about his presence on Facebook which acts
A big advertisement instrument.
.Use of Facebook Plug-in: Integrating Facebook Plug-in with different websites creates branding
Awareness of Facebook.Mainly, Facebook strategy was to become number one in social
Networking arena, which it had succeeded in the recent past.Facebook was not initially created
Vision And mission is to connect people together for global sharing and connections through a
Common Platform. They hope to strengthen and build how people relate to each
Other.Facebook’s value These years were to Focus on impact, to move fast, to be bold, to be
Open and last but not the Least build social values.
At the beginning technology giant Microsoft and Digital Sky Technologies were the majority
Stake Holders. The list of all the stakeholders is given as below:
- Mark Zuckerberg, Facebook founder and CEO.
- Dustin Moskovitz, Facebook co-founder and former employee.
- Eduardo Saverin, Facebook co-founder and former employee.
- Chris Hughes, Facebook co-founder and former employee.
- Goldman Sachs.
- Digital Sky Technologies. This Russian firm made a $200 million investment in May 2009 for preferred stock at a $10 billion valuation, according to Facebook.
- Microsoft.
- Venture Capital Firm.
- Accel Partners. This venture capital firm invested $12.7 million in May 2005, according to Facebook.
- Sean Parker, Internet technology entrepreneur and former Facebook president.
- Peter Andreas Thiel, an American entrepreneur.
- Matt Cohler, an American entrepreneur and venture capitalist and former Facebook employee.
Since inception,Facebook has seen a huge growth in revenue, which stands at 7872 million
USD As of year 2013.Total profit or net income stands at US$1.5 billion which suggests the
Company Is in green zone that is making profits. Recently we have noticed that there is a
Decrease in price Of stocks after there was a news broadcast that it is going to buy Oculus VR Inc.
Facebook is suing Yahoo with 10 patents which are discussed below:
U.S. Patent No. 7,827,208 — Filed on August 11, 2006, and granted November 2, 2010
“Generating a feed of stories personalized for members of a social network”
U.S. Patent No. 7,945,653 — Filed on October 11, 2006, and granted May 17, 2011. “Tagging
Digital media”
U.S. Patent No. 6,216,133 — – Filed on May 30, 1996, and granted April 10, 2001. “Method for
Enabling a user to fetch a specific information item from a set of information items, and a system
In carrying out such a method”
U.S. Patent No. 6,411,949 — Filed on August 12, 1999, and granted June 25, 2002.
“Customizing database information for presentation with media selections”
U.S. Patent No. 6,236,978 — Filed on November 14, 1997, and granted May 22, 2001. “ System
And a method for dynamic profiling of users in one-to-one applications”
U.S. Patent No. 7,603,331 — Filed on March 7, 2005, and granted October 13, 2009. “ System
And a method for dynamic profiling of users in one-to-one applications and for validating user
Rules”
U.S. Patent No. 8,103,611 — Filed on September 3, 2009, and granted January 24, 2012. “
Architectures, systems, apparatus, methods, and computer-readable medium for providing
Recommendations to users and applications using multidimensional data”
U.S. Patent No. 8,005,896 — Filed on June 17, 2010, and granted August 23, 2011. “System for
Controlled distribution of user profiles over a network”
U.S. Patent No. 8,150,913 — Filed on August 22, 2011, and granted April 3, 2012. “System for
Controlled distribution of user profiles over a network”
Till now Facebook got sued in various instances, but the biggest one is about $15 billion dollars
Lawsuit over Privacy issues. The main concern here was continuous tracking of users by
Facebook even after they had logged out from their accounts.
Facebook, is one of the social networking websites and regarded as the biggest amongst all the
Players.There has been always a comparison between Facebook and myspace but certainly there
Is big difference between the two in level of customization.Facebook has got several widgets and
Features through which users can interact with each other.To be simple and precise Facebook is
Much more interactive and user friendly which is helping Facebook to win over its rival
Myspace. Another big competitor was Orkut , but it’s all history now.
As of September 2013..
71% of the users use Facebook
18% use Twitter
17% use Instagram.
21% use Pinterest.
22% use Linkedin.
Facebook is available universally. The issues that we can observe while accessing Facebook are:
Network Issues: Latency in a network can be a big problem while accessing Facebook.
Dynamic IT environment: Things are changing fast these days. So every time there is a change in
The process of accessing Facebook creates a fuss and problem.
Application Testing: Most of today’s applications are developed in stimulatory environments not
Realistic scenarios which can also create problems while running the applications.
It is very difficult to track technological changes carried out by Facebook.One of them worth
Mentioning is HTTPS by default. It protects the communication between the users and the
Facebook users.
There has been mixed reviews about Facebook in public. Positive reviews are like as follows:
They help to keep or maintain ties between closer ones.
They revive dormant relationships.
Facebook users are politically more active than the others.
Facebook can be educative to some users if used sensibly and responsibly.
Negative reviews are as follows:
Facebook is isolating people and truncate their relationships.
It’s a complete time waste while people can be more productive trying something else.
So, it is like a never ending argument. Good things always come with some disadvantages which
We need to consider and act accordingly.
Works Sited:
Sean P. Aune. “Facebook Sued for $15 Billion Over Privacy Issues” 18 May 2012. http://www.technobuffalo.com/2012/05/18/facebook-sued-for-15-billion-over-privacy-issues/
myshadow.org. “Things to know about recent changes in Facebook”. https://www.tacticaltech.org/things-know-about-recent-changes-facebook.
Social Networking Fact Sheet.25 Feb 2013. http://www.pewinternet.org/fact-sheets/social-networking-fact-sheet/.
Runa Mukherjee Parikh. “Social networking sites influence voters, says study”7 April 2014. http://timesofindia.indiatimes.com/Home/Lok-Sabha-Elections-2014/News/Social-networking-sites-influence-voters-says-study/articleshow/33350312.cms.
Facebook Stock Price. 4 April 2014. http://moneymorning.com/tag/facebook-stock-price/
