In the 21th century, one of the era in which science and technology evolving, the world economy is becoming globalized, so the connection between the people together is a breakthrough idea. At 19, Mark Zuckerberg came up with a new way for college kids to connect–and started an online revolution. Now 23, he’s trying to build out his business without losing its cool. Now, people call his idea is social network and in the world have a lot of social network; however, Facebook (www.
facebook. com) and Twitter (www. twitter. com) are the most popular people use to connect each other around the world.
Almost people think Mark Zucketberg is stupid when create Facebook because Yahoo (www. yahoo. com) and Hotmail (www. hotmail. com) is the greatest tool for people can chat and email each other. Moreover, Google (www. google. com) is the big company about advertising, email, search tool…So Facebook have a lot of company to competitive on the internet.
Today, I will introduce about how Facebook get the money, gradually become the best social network. People use Facebook to chat, post news and create group to connect with friend or another people same hobby, purpose.
Facebook cooperate with Zynga, the company No. 1 developer of Facebook applications and Farmville and Mafia War become the most popular people play around the world, to make people more enjoy when use Facebook like they can play game with each other. Facebook began testing its virtual currency was called Credit, people can use Credit to trade, buy item in game or give as gift for their friend. People can buy Facebook credit through use Credit card or go to the store like Target or GameStop to buy it.
Facebook have more than a million other application run on the site, so they have plan to use Credit to charge for access to certain features or to things like music, videos or news articles. The potential for using Credit can use it to pay beyond the Facebook site, some website allow people use Facebook to log in instead create new account and fill again information that make people feel annoying. People create account in Facebook and get Credit in it, so they can log in any website with Facebook account and purchase something by using Credit they have in Facebook account.
In addition to innovations in Credit for users can easily pay, Facebook is a place where investors are spending a lot of money to advertise. For example, South Africa’s FNB Bank (FNB) use Facebook a marketing and customer service channel, and found an overlap between its mobile banking customers. There are more than 4. 7 million active Facebook users in South Africa (out of 50 million total population), and more than 150,000 FNB Facebook fans, giving the bank a readymade market for social media banking.
Facebook bring more customers to the bank and more people know about Facebook, so they have Win-Win situation for both side. Facebook‘s revenue is more higher when more people tend to use Credit and Advertising in Facebook site. In the Third Quarter in 2012 of Facebook was published in www. Morningstar. com, the revenue about $1,262 million increase of 32%, compared with $954 million in the third quarter of 2011. Facebook was successful when more people use Facebook as web game, chat, watch news, pay web, email… For investment, they look Facebook as a growing company, the investment worth it to spend money.
In the stock market, when Facebook shareholder IPO in May with price $38, and then fall down like slide down the snowy mountain. More investment feeling frustrate Facebook because Yahoo and Google, in the era of the internet boom, it must thrive instead upside down as Facebook. However, after half year, FB become a name people want to talk about again when these stock fall down lowest $16 and move to $27 now. In my opinion, Facebook will be grown up in the future like Google or EBay, because Facebook have a lot of way to do in the future.
Mark can add search tool like Google in Facebook site that now just only find friend and company page (advertising). Facebook can become an mixture: apart of Google for search tool and advertising, a part of PayPal using Credit to purchase, a part Yahoo that can chat and email for each other. Moreover, social network is more population in this century, so Facebook will become a big company in the future and when everyone use Facebook like a part of live; Facebook will be an intermediary between customer and company, between government and citizen, between school and student…
Finally, people cannot deny that Facebook brings utility like connect people around the world, connect customer and business, bring more entertainment for user, and bring benefit for investment. Facebook accounted for the top spot on the social network, because of the relentless creativity as Timeline, create Credit as currency online, bring more opportunity for business that they can marketing to everyone around the world by Facebook. As Bill Gate, Steve Job, Mark Zuckerberg will be add in the history business who create social network and make it will bring many future breakthroughs of the 20th century.
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Facebook. (2016, Sep 19). Retrieved from https://studymoose.com/facebook-essay