Facebook had earned $69.31 billion revenue according to “Facebook Financial Statement Q2 2019”. In 2018 facebook projected their revenue at $55.84 billion what was 24.1% less than 2019. The CEO of Facebook Mark Zuckerberg said that they are expecting $84 billion as revenue in 2020.
Facebook’s headquarter is in Menlo Park, California. Facebook also consider one of the four big technology companies. Facebook was created for social interaction and privacy control also to do a viable business.
Firstly, Facebook was only used by the student of some selected university but later, in 2006 anyone who claims to be 16 years old can use Facebook. Most Facebook revenues come from the advertisements and the news which appear on newsfeed. It is one of the newly listed public companies worth $104 billion.
Facebook can be used with internet connectivity from devices like mobile, pc, laptops, tablets. In 2018 it shows that there are 2.3 billion monthly active users are on Facebook. In May 2013 facebook joined the fortune 500 lists. End of the 2007 facebook had 100000 pages to put an advertisement for companies. Microsoft purchased a 1.6% share of Facebook for $240 million which gave rights to post international advertisements. Facebook’s international headquarters is in Dublin, Ireland which they announced in October 2008.
After that announced that they will move their headquarter to the former headquarter in Menlo Park, California. According to the study, it shows that Facebook had become the second-most accessed website in the U.S. behind Google in 2011. Before that in 2009 China blocked Facebook. In June 2014 facebook introduced clickable hashtag which helps users to follow the trend. In February 2014 facebook bought WhatsApp for US$19 billion in cash and stock.
Mark Zuckerberg showed his 10-year vision on April 12, 2016, which is based on three pillars, artificial intelligence, increased global connectivity, and virtual reality. A very recent incident that happens on July 3, 2019, is Facebook’s option to view and load pictures stopped working which is complained by people around the world.
After this Facebook posted on Twitter about this issue and said they would resolve it as soon as possible. Recently, facebook partnership with the University of California to build a non-invasive, wearable device that lets people type by simply imagining themselves talking, they announced about it on July 31, 2019.
Facebook Admin Panel
- Mark Zuckerberg (Chairman and Chief Executive Officer)
- Sheryl Sandberg (Chief Operating Officer)
- Mike Schroepfer (Chief Technology Officer)
- David Wehner (Chief Financial Officer)
The Director Body of Facebook
- Mark Zuckerberg (Chairman, Founder, and CEO)
- Sheryl Sandberg (Executive Director and COO)
- Marc Andreessen (Non-Executive Director, Co-Founder and General Partner, Andreessen Horowitz)
- Erskine Bowles (Non-Executive Director, President Emeritus, University of North Carolina)
- Kenneth Chenault (Non-Executive Director, Chairman and Managing Director, General Catalyst)
- Susan Desmond-Hellmann (Non-Executive Director, CEO, Bill & Melinda Gates Foundation)
- Reed Hastings (Non-Executive Director, Chairman, Co-Founder and CEO, Netflix)
- Peter Thiel (Non-Executive Director, Co-Founder and Former CEO, PayPal, Founder and President, Clarium Capital)
- Jeffrey Zients (Non-Executive Director, Former Director, U.S. National Economic Council)
Facebook earned US$20.21 per user from advertising. Facebook ranked 76 in the Fortune 500 list of the largest United States corporations by revenue. Recent revenues data on Facebook:
|Revenues (in millions of US$)|
Facebook claimed that it has 2 million active users and most of them are from small businesses. One active user advertisement last for 28 days and they also announced that 70% of their users are from outside of the USA. In 2010 Facebook opened its fourth office in Hyderabad, India which is also the first Facebook office in Asia.
Facebook’s rapid growth started from when it started to till now in June 2017 shows that it has 2 billion users. Economists also showed that Facebook provides many non-rivalrous services that benefit as many users as are interested without forcing users to compete with each other. Facebook also helps much social gaming, review, communication, feedback, and other applications related to online activities by providing them a developed platform.