What is Facebook?
Facebook is an American Social networking technology company. Mark Zuckerberg founded the company in 2004 while he was a Harvard University 2004, growing to over 900 million members. People created their profiles on the site Facebook.com. Then they can upload their photo, share new stories, stay in touch with friends, and much more. In 2022, Facebook’s net worth is around $528 Billion.
|Revenue:||US$$119.66 billion (2022)|
|Operating income:||US$43.90 billion (2022)|
|Net Income:||US$37.38 billion (2022)|
|Total Assets:||US$164.22 billion (2022)|
|Total Equity:||US$123.228 billion (2022)|
|PE Ratio 2022:||14.64|
|Number of Employees:||52,535 (June 30, 2020)|
|Brands:||Facebook, Instagram, Messenger, WhatsApp, Oculus VR|
|Net Worth 2023:||$528 Billion|
Facebook is a social networking site that makes your connections and sharing easy with family and friends online. At the start, Facebook was designed for college students.
But after changing over time, Facebook was created in February 2004 by Mark Zuckerberg, along with Edward Saverin.
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They were studying at Harvard University. Each invested happily $1,000 in the site as capital, and on February 4, 2004, Zuckerberg launched “The Facebook,” located initially at thefacebook.com.
Anyone over 13 with a valid email address could join Facebook in 2006. It became a social network that is more popular than MySpace. At the time, Facebook is the world’s largest social network, with more than 1 billion users worldwide. Facebook is user-friendly and open to everyone.
At the start, the founder had limited Facebook membership to Harvard students. Then they expanded to Ivy League schools, MIT, and other institutions of higher learning in the Boston area. Then its membership grew to other universities and high schools and to all who were above 13 years and had an email address.
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Facebook moved to Palo Alto, California, in 2004. Facebook attracted investors who partnered with him in 2005. First, he partnered with PayPal, which invested $12.7Million other individual investors also came on board. Since 2007, 100,000 pages of companies have wanted to promote their services through Facebook.
Microsoft announced that it had purchased a 1.6% share of Facebook for $240 million on October 24, 2007.
Facebook passed 100 million registered users in 2008 and 500 million in July 2010. Facebook’s rapid growth began as soon as it became available. Facebook has become the third-largest American web company after Google and Amazon.com. Facebook invested heavily in developing new products, including the new Libra cryptocurrency, artificial intelligence (AI), and augmented reality.
Facebook won the “People’s Voice Award” from the Webby Awards in 2008. It also won the Crunchie “Best Overall Startup Or Product” award for the third year in a row in 2010.
Facebook Net Worth 2023
In 2023, Facebook’s net worth is around $528 Billion. It makes money by selling advertising space on its various social media platforms. On October 24, 2007, Microsoft purchased included rights to place international advertisements. Mark Zuckerberg has the majority of shares on Facebook.
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