Background history of Facebook and the expected future Essay

Background history of Facebook and the expected future - Essay Example Although Zuckerberg in Oct 2004 intended to launch the organization’s international strategy, he did not have the resources and human personnel essential to push the business to the other part of the world. In August 2005, the organization managed to expand to other institutions and anyone with an institutional e-mail address was free to register in this network (Croft, 2007). In September 2006, the organization managed to go global and any member from wherever part of the world was able to open an account with their personal e-mail address and access this social site. Facebook is a company that has continued to grow financially since its launch in 2004. At its launch, the company was valued at $500, 000 and has continued to grow in net worth. According to its 2013 financial report, the company has total equity of $15.47 billion and was ranked among one the most competitive organizations in the social network. In this year, the company registered revenue of $ 7.872 billion dollars and net income of$ 1.500 billion. The number of register users of this social network is estimated to be about 1.2 billion and the organization employs over 5,800 employees within its network (Raice, 2011). Although the social media network has continuously expanded hence increasing competition, Facebook has remained on the competitive end by attracting more clients to the network. Although Facebook was started as a social network for the college students, the social site has grown to attract clients across different market stakeholders. For instance, the organization has provided business organization with an advertising medium which they have found crucial in their marketing strategy. For this reason, the organization has managed to pull the business people into the site leading to a rapid growth of its customers. The business organizations have found Facebook as superior advertising avenue as compared to other advertising