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Facebook Inc. – Overview
Founded in 2004 by Mark Elliot Zuckerberg; Facebook Inc. is an online social media and social networking service company, headquartered in Menlo Park, California. The co-founders of the website are Andrew McCollum, Chris R. Hughes, Dustin Moskovitz, and Eduardo Saverin. The company focuses on the development of social media applications that can be accessed from various devices with Internet connection (desktop computers, tablet computers, laptops, smartphones), in order for users to connect and share opinions, videos, images or other virtual content.
Facebook Inc. had its initial public offering (IPO) in February 20121, valuing the company at $104 billion (the largest valuation for a newly listed public company) and it began selling stock to the public three months later. Most of Facebook’s revenue comes from advertising and in February 2015, Facebook announced that it had reached two million active advertisers. As of January 2018, the website has more than 2.32 billion monthly active users2.
Facebook has helped many new businesses grow and added thousands of jobs to the economy. As of 2016, the number of Facebook employees has reached 17 thousand (full-time positions)3, and has gained a notoriety as one of the most popular companies to work for.
What kind of services does Facebook Inc. provide?
Facebook provides products which allow users to connect and communicate through various devices, from personal computers to mobile devices, and tablet computers. Its main products are the Facebook website and mobile app that enables users to connect, communicate, discover, and share content with each other; the Instagram mobile app, which allows users to share visual stories through photos, videos, and direct messages; Facebook Messenger, a messaging application to privately communicate with other people, groups connected on Facebook; and finally, WhatsApp, a mobile messaging application.
Instagram, WhatsApp and Oculus VR, an American technology company that specializes in virtual reality hardware and software products; were all purchased by Facebook, becoming the company’s subsidiaries4. Instagram was purchased for approximately US$1 billion in cash and stock (April 2012); WhatsApp was acquired for US$19 billion in cash and stock (February 2014) and Facebook paid $2 billion for Oculus VR (2014).
Facebook Inc. has also bought CrowdTangle, a tool used to track how content is shared on social media. The two companies announced the deal in November 2016, but the sum of the acquisition remained undisclosed.
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Facebook Inc. (FB) produces most of its revenue from advertisements and in the recent years, the corporation has acquired more companies, including Instagram, WhatsApp, and Oculus VR. It is listed on the NASDAQ stock market and is a component of the NASDAQ – 100, S&P 100, and S&P 500 stock market indexes. Trade the Facebook Inc. stock price or buy Facebook shares on the powerful and perceptual TradeFW platform!
- Mark Hall, “Facebook”,Feb, 7, 2019, britannica.com, https://www.britannica.com/topic/Facebook
- Facebook Newsroom, newsroom.fb.com, https://newsroom.fb.com/company-info/
- “Number of full-time Facebook employees from 2004 to 2018”, statista.com, https://www.statista.com/statistics/273563/number-of-facebook-employees/
- Nathan Reiff, “Top Companies Owned By Facebook “, Mar, 1, 2019, investopedia.com, https://www.investopedia.com/articles/personal-finance/051815/top-11-companies-owned-facebook.asp