Dr. Ravi Singh

WHO IS Facebook?

Facebook is a social networking site created in 2004 by Mark Zuckerberg while he was enrolled at Harvard University. Originally designed for college students, the site that helps users to connect and share with family and friends online.

WHAT THEY DO?

Facebook allows users who sign-up for free profiles to connect with friends, colleagues, and other people from across the world. The site allows users to share pictures, music, videos, and articles, as well as their own thoughts and opinions with as many people as they wish.

HOW THEY WORK?

To be on Facebook, you first need to create a free account on the site. Users must be at least 13 years old, and it is required that any member between the ages of 13 and 18 be enrolled in school. Everyone must sign-up with a valid e-mail address. After answering a few questions and adding personal details Facebook creates your profile.

After creating a profile, you are required to find friends to start interacting. This is how to do it.

Browse and join networks in the regions, colleges, workplaces, and high schools. From either category, you can view the list of members and search for people you know.

Facebook also pull contacts from a Web-based e-mail account, but you need to provide Facebook with your e-mail address and password.

You can also use Facebook's search engine to look for a specific person, by simply typing their personal details like name, email, or contacts.

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HISTORY:

Facebook was founded on February 4, 2004, in Cambridge, Massachusetts, by Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes.

On February 1, 2012, Facebook filed for an initial public offering (IPO).

On May 22, 2012, an investigation was started regulators from Wall Street's Financial Industry Regulatory Authority to see whether banks underwriting Facebook had improperly shared information only with select clients, rather than the general public.

On December 21, 2013, Standard & Poor's added Facebook, Inc. to its S&P 500 index.

On May 2, 2014, Facebook changed its internal motto from "Move fast and break things" to "Move fast with stable infrastructure."

In May 2019, Facebook founded Libra Networks, to start developing their own stablecoin cryptocurrency.

In April 2012, Facebook acquired Instagram for approximately US$1 billion in cash and stock.

In October 2013, Facebook acquired Onavo, an Israeli mobile web analytics company.

In February 2014, Facebook bought mobile messaging company WhatsApp for US$19 billion in cash and stock. The same year, Facebook bought Oculus VR for $2.3 billion in stock and cash.

In 2019 Facebook spent $16.7m on lobbying and had a team of 71 lobbyists.

In late July 2019, Facebook was under antitrust investigation by the Federal Trade Commission.

In late November 2019, Facebook acquired game developer Beat Games.

In April 2020, Facebook entered a $5.7 billion deal with the Indian multinational conglomerate Reliance Industries to purchase approximately 10 percent of Jio Platforms, Reliance's digital media and services entity.

In May 2020, Facebook acquired Giphy for $400 million.

BEST PRACTICE:

Facebook demographics is an important tool that helps users know about customers. Facebook demographics tools are very helpful in making it easy to keep track of the constantly evolving digital world.

TIPS:

Create a custom tab so your curious audience can check out your best features.

Perfect your call-to-action CTA by adjusting the CTA button to include the default “Send message” button. This will make sure your audience is being sent in the right direction.

Write an organic Facebook post that is usually less than 80 characters; it will gain you more engagement.

Schedule your Facebook posts and always ensure to post the best time of day to when your audience is online.