Facebook added their 500 millionth member yesterday, July 21, 2010. What’s incredible is that after being founded in 2004, it took Facebook about 5 years to reach 250 million members but just another year to double that! Founder Mark Zuckerberg says that 1 billion members is “almost a guarantee” and it’s hard to question his reasoning. Facebook is free to users who share photos, videos, views and more with their network(s) of friends.
Facebook makes money by selling advertising which can be targeted to very specific demographics due to the rich information they gather about their users. Terrific story, and a terrific place to advertise as part of a company’s internet marketing plan.
Facebook launched in 2004 as a dorm room project; the fact the operation has grown to encompass half a billion people around the world in six years is nothing short of phenomenal. However, the company’s path to growth hasn’t always been smooth, with Facebook facing serious questions regarding the security and privacy of users’ data. Facebook has also rubbed some feathers the wrong way: just this week, the American Consumer Satisfaction Index found American consumers’ satisfaction with Facebook was in the lowest tier of all American companies—right in there with cable and television providers.
Facebook Stories is intended to highlight the ways Facebook has had an impact on users’ lives…and, of course, it’s already displaying the pros and cons of the new social media age. In addition to heartfelt statements about how people have used Facebook to make a positive impact in the real world…the site is already being littered with cheesy come-ons, conspiracy theories, and political screeds.
