Posts Tagged ‘users’

Facebook’s 5th Birthday

Thursday, February 5th, 2009

This week has marked the 5th birthday of Facebook, and over the past 5 years, the company has firmly established itself as the worlds most popular social networking site.  Like many successful information sites, Facebook began life as a University project and it now has over 150 Million users worldwide.  Although this number continues to grow at an astonishing rate, founder Mark Zuckerberg believes the company still has a lot to achieve.

Facebook has changed a lot since its inception and has incorporated many new features over the past few years.  This include status updates and the chat system - features that are largely responsible for the success of competitors twitter and live messenger.  However, Zuckerberg admits that one of the biggest unanswered questions Facebook will have to deal with in the near future is “what is the best way to monetise the site?”

The site has huge potential for monetisation through advertising.  Having 150 Million users means that ads on Facebook can reach a huge audience.  However, the real strong point of Facebook ads is that advertisers can use the wealth of information on users’ profiles to create extremely well targeted ads.

In the current economic climate, maximising profits is a concern for virtually every company.  However, compared to many other Internet giants, Facebook is in a fairly comfortable position.  Although monetisation will be a major focus, it seems that Facebook is more concerned with expanding its services and creating the best possible user experience (and rightly so).

More information relating to this post, as well as an interview with founder Mark Zuckerberg can be found on the BBC Website.