Facebook is a social networking service and a social media network based in United States. Headquarters of Facebook is located in California. As of now, Facebook is one of the most popular and successful companies out there in the world. That’s mainly because billions of people who live out there in the world are using Facebook social media network. Recently, Facebook went ahead and purchased many other tech companies, including Instagram and WhatsApp. Along with that, Facebook is playing a dominant role in the market as well.
History of Facebook
Facebook was created in the year 2004. Mark Zuckerberg was the founder of Facebook. He got the help of his colleagues, including Chris Hughes, Dustin Moskovitz and Eduardo Saverin to launch the social media network. It was initially created with the objective of using a social media network for his university. However, Facebook experienced an unexpected boost in popularity. Due to the same reason, the social media network grew and it could surpass more than one million users within the very first year.
Revenue made by Facebook
Facebook ranks among Fortune 500 companies. According to the stats of 2018, Facebook is there on the 76th position of the Fortune 500 list. Facebook is making a massive revenue as well. In fact, Facebook has earned over $55,000 million dollars in the year 2018. The popularity of Facebook is increasing along with time. Along with that, revenue generated by Facebook is increasing as well.
Most of the revenue that comes from Facebook is made through advertisements. In fact, Facebook now offers a variety of methods for the advertisers to go ahead and advertise. For example, you will even be able to insert advertisements into the middle of videos that are being played. Hence, we can expect Facebook to secure even more revenue by the end of 2019.
Marketing strategy of Facebook
Facebook focuses on delivering a variety of products and services to the users. Along with that, the company is trying to increase the popularity that the company has. They have been able to get the job done with ease due to the competitive advantage that they have. In fact, Facebook is working with a variety of communities that are scattered all around the world. They are on a mission to provide a variety of online services that those people in need. Along with that, Facebook has been able to make the world more transparent.
When you deep dive and take a look at Facebook, you will notice that they are having many different platforms. These different platforms have been used for the convenience of different consumer bases. For example, Facebook is an application where people can publish photos, status updates and activities. On the other hand, Facebook also helps people to communicate with other people and favorite brands.
Likewise, Facebook is offering Instagram, where people can share photos and videos. They are also provided with the chance to share edited photos and videos. In addition to that, they can also see photos and videos of the other people, whom they follow on Instagram.
Facebook recently acquired WhatsApp as well. WhatsApp is the most popular messenger app that you can discover. It is helping people to send messages to others with ease. In other words, WhatsApp can streamline communications. It is also possible to have group conversations with the help of Facebook.
Popularity of Facebook brand is helping a lot to the company with taking their marketing strategy to the next level. That’s because people tend to trust what is offered by Facebook. Whenever Facebook releases a new product, it becomes popular among potential customer groups with the help of their brand name and market base.
Products and services offered by Facebook
Even though Facebook is well-known for the social media network, you will be able to discover a variety of products or services offered under the hood. Here’s a list of some of the most prominent products and services that come under the Facebook brand.
It is quite impossible to go through the products and services offered by Facebook without taking a look at the core social media network. This is where it all happened. As of now, more than 1.7 billion users from all around the world are using Facebook. The features available inside Facebook social media network, such as News Feed, Profile, Groups, Messenger, Search, Photos, Video and Events. You will also be able to discover a variety of sub-projects, such as Facebook Lite and Facebook Messenger.
Facebook recently acquired the social media network Instagram. As of now, Instagram is fully managed by Facebook. It is a popular photo and video sharing platform. As of now, more than 500 million users are using Instagram.
- Boomerang
Boomerang is an app, which can be used to capture a burst of photos and then speed them up to play backward and forward. In other words, Boomerang app can be used to create a looping Boomerang video.
- Moments
Moments is a photo app available for Android and iOS. With the help of Moments, you will be able to create shared photo albums. After creating the photo albums, you are provided with the ability to go ahead and share them with your friends and family members. You will be able to use Moments in order to send photos to the friends as well.
- Facebook Business
Facebook Business provides you with the opportunity to provide you with the latest news, best practices and advertising tips. In addition to that, Facebook Business is increase case studies in order to Facebook to achieve specific business goals.
These are some of the most prominent products and services that come under Facebook cloud. The company is engaged in the process of diversifying their services even more. Along with that, Facebook is also looking forward to acquire many other businesses, which can help them to make the business achieve even higher levels of success.