How Mark Zuckerberg makes $6.2 BILLION in a day of 2020:
In a day and age where the national debt is steadily rising every moment that we exist, it's astounding to see how many companies celebrities and people are thriving financially their stories and backgrounds astonish us. Mystify our imaginations and sometimes even challenge our thinking.
Facebook burst into existence in 2004 as a simple way for the students on the Harvard campus to socialize online and become friends and since the social media giant has expanded into a three hundred Forty Billion dollar company. That is the number one internet stop for billions of people worldwide. But how did Facebook get to this point? How did some of the most common people profit from its growth? Where does it stand today? And where will it be in the future?
Now, we examine the growth of a social media empire that shows no signs of ever fizzling out.
The year is 2004 and college sophomore Mark Zuckerberg hacks into the Harvard student listings to gain access to ID photos in an attempt to create on online version of a hot or not style for Harvard students called Facemash.
The site quickly gains traction with over 20,000 views in its first hours. But it is also quickly pulled from the net. Eventually, Mark Zuckerberg would regroup rebrand, and relaunch with his product expanding to other Ivy League colleges and then eventually on to other universities under the branding of being strictly for students to connect through a college networking platform. The website erupted in popularity and fastly became a competitor to the dominant myspace a broad and open platform. Where users were connecting to each other. Customizing their content and expanding their public images.
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Fast forward to 2009, Facebook is public to anyone and everyone above the age of 13, and a new concept of business pages begins to take shape.
Now the site is not just for friends. It is quickly becoming the online hotspot for trends, fashion, business, celebrity gossip, and more. And it is grown well past its initial intentions. MySpaces and Google begin to take notice. In fact, it is rumored that around this time the Zuckerberg attempted several times to sell Facebook to MySpace founder Chris DeWolfe for increasing amounts.
DeWolf apparently did not see the value in the social networking site and held on tight to the reins of his own agenda. A costly mistake.
Facebook would eventually begin drawing double the traffic of MySpace. Instead DeWolf sold out to New Corps. Who ran the MySpace brand into the ground while Microsoft bought a small percentage for a humble price of 240 Million Dollars. Giving Facebook and implied value of 15 Billion Dollars.
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By 2010, Facebook's reported worth sat at just 41 Billion dollars . Cruising toward its way in becoming a publicly offered stock company and the IPO hit the market. In 2012 Facebook officially joined the fortune 500 company club. Setting a record of 460 Million Shares, speaking of stock.
Graffiti artist David Choe was to paint murals on the walls of the first Facebook headquarters. In a twist of entrepreneurial excellence. Cho decided that rather than being paid for his efforts and expertise, he would take shares of stock. He chose settled on the stocks. Saying at the time that Facebook was in his opinion. Useless! The stock was worth only a few thousand dollars. But when Facebook hit the public market the worth of the stock. Took made him an instant millionaire. With a net worth of over $2 Million Dollars.
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Today Facebook sees over 1 Billion Users per month to its site and most of its revenue is generated through advertisements. With over 3 Million active adverisers taking part in the site and more than 70% of those coming from outside of the United States.
Facebook continues to improve the user experience with profile names, news, feeds, like button, share button, chatting including video. The place, the tagging feature, the ability to follow others to keep up with them. Trending reports and so much more. The site now sees a net worth of 340 Billion Dollars and Mark Zuckerberg himself. He is worth 51.2 Billion at age 32.
Not bad for a kid who dropped out of college to make a website.
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