The Finances of Facebook

It is said that Mark Zuckerberg stole the idea for Facebook from some other college kids.  The exact same thing was said about Bill Gates.  It is rumoured that Bill Gates stole the idea for Windows from his roommate in college.

I am not sure what the big deal is if someone develops an already existing idea. Besides, there is no patent, trademark, or copyright; at that point it’s only an idea.  When we are starting a new business it is said that we shouldn’t try to reinvent the wheel.  We should develop a smart and simple idea that can supply the need to an existing demand.

Various Facebooks already existed for several universities and colleges throughout the US. It was a very popular method of communication that students used to keep their friends up to date on their daily activities.  Mark Zuckerberg took that existing idea and developed it into a universal Facebook that is not limited to only college students at one educational institution.

The success of Facebook is not a secret, it’s actually very simple. We made Facebook a success, us, the users.  When we think about what made Facebook so successful all we have to do is ask ourselves… Why do I love Facebook?

Who do I communicate with on Facebook? Some users reconnect old friends and some people use Facebook to stay connected with their current friends. Other people use Facebook purely for business reasons.  They find supplementary businesses to complement their service.

What do I post on Facebook? Think about your last status update, the last link you posted, and the last picture you uploaded…was is personal or related to business? Keep in mind that employers may no longer check references, but they will search for potential employees on Facebook.  People have also been known to get fired over information that they posted on Facebook.

When do I use Facebook? Texting and calling friends is becoming a communication method of the past.  Now people “Facebook” their friends to keep in touch, ask questions, and make plans. Facebook and Facebooking is now a common verb in our everyday language.

Where do you connect to Facebook? You may check it in the morning before work, you may log in during the evening after dinner, or you may be connected to it all day via your smart phone.

Why do I Love Facebook? Do you love Facebook because you can keep in touch with friends, because you can use it as a means to network your business skills, or just because everyone else is using it?

How many times a day do you log into Facebook? Do you log into Facebook once a day to get updates, or are you addicted to it and log in every single chance you get throughout the day?

Here is a breakdown of the Finances of Facebook:

• Facebook is currently worth approximately $50 billion dollars.  This is more than Yahoo! and eBay.
• The founder of Facebook, Mark Zuckerberg, is currently worth over $4 billion.
• The movie The Social Network is based on the story of Facebook.  It earned over $45 million at the box office.
• Facebook is a privately traded company; therefore we cannot buy stock on the open market.  Shares of Facebook are currently only offered to employees

Would you buy stock in Facebook if it became a publicly traded company?