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Facebook has only been in existence since 2004 and its CEO and co-founder, Mark Zuckerberg, an ordinary people who is just only 26 years old, dropped out from Harvard to pursue his dream of growing his company. The events surrounding Facebook’s founding have already become the common and popular social networking in nowadays usage.
It has been reported that the film will not paint Zuckerberg in the best of light. But if the life of any 18-20 year-old were chronicled, it would likely be full of missteps. Let’s remember that Zuckerberg has also done many things well. To follow are a few leadership nuggets that may get lost amongst the criticism.
1. Believe in the vision
In 2006, Yahoo`s company attempted to buy Facebook for $1 billion. Regarding of majority of population of students, yahoo is very interested to buy over the company. Facebook, which allows users to put up profiles of themselves, recently signed an advertising deal with Microsoft. This allows yahoo to be able to beneficial their advertising and commercial to get more exposure towards public awareness.
At the time, CEO and co-founder Mark Zuckerberg was just only 22 years old, and he rejected the offer. With the volatility in the dot com market, most felt he made a huge mistake. This raise out an issue, Why did he turn the offer down?
When Mark Zuckerberg showed up in Palo Alto three years ago, he had no car, no house, and no job. Today, he’s at the helm of a smokin’-hot social-networking site, Facebook, and turning down billion-dollar offers.
I’m just lucky to be alive.” Mark Zuckerberg, the 22-year-old founder and CEO of social-networking site Facebook, is talking about the time he came face-to-face with the barrel of a gun. It was the spring of 2005, and he was driving from Palo Alto to Berkeley.
Just a few hours earlier, he had signed documents that secured a heady $12.7 million in venture capital to finance his fledgling business. It was a coming-of-age moment, and he was on his way to celebrate with friends in the East Bay.
Zuckerberg’s life so far is like a movie script. An intelligent kid come from a normal well family, who has the capability to invents a tech phenomenon while attending an Ivy League school. Harvard, one of the fundamental history places where he launches “facesmash” to rave reviews. He had developed the experimental, rudimentary social networking website. Big shots circle his dorm to make his acquaintance to overcome his boring time, he drops out of college to grow his baby and change the world as we know it now. Just three years in, what started as a networking site for college students has become a go-to tool for 19 million registered users, including employees of government agencies and Fortune 500 companies. More than half of the users visit every day. When a poorly explained new feature brought howls of protests from users–some 700,000–the media old and new jumped to cover the backlash. But Facebook emerged stronger than ever.
According to comScore Media Metrix, which tracks Web activity, it is now the sixth most-trafficked site in the United States–1% of all Internet time is spent on Facebook. ComScore also rates it the number-one photo-sharing site on the Web, with 6 million pictures uploaded daily.
There`s many rumour claimed that it is starting to compete with Google and other tech titans as a destination for top young engineering talent in Silicon Valley. Debra Aho Williamson, a senior analyst at eMarketer, says it is on track to bring in $100 million in revenue this year–serious money indeed.
TechCrunch posted documents said to be a part of an internal valuation of Facebook byYahoo. The documents projected that Facebook would generate $969 million in revenue, with 48 million users, by 2010. The New York Times and others reported that Yahoo had made a $1 billion offer to buy Facebook–and Zuckerberg and his partners had turned it down. This followed an earlier rumor of a $750 million offer from Viacom. Yahoo, Viacom, and Facebook would not comment on the deal talk (and they still won’t). But Silicon Valley has been abuzz ever since.
At the time he claimed he was “here to build something for the long term.” In a recent interview with Diane Sawyer, Zuckerberg was amazingly consistent, and he expanded on that same sentiment, saying, “we really just believe in what we’re doing.” And what they’re doing is simple: they connect people and then empower them to share what they want.
Zuckerberg’s college-kid style reinforces the doubts of those who see the decision to keep Facebook independent as a lapse in judgment. In less than two years, the two reigning Web 2.0 titans have sold out to major corporations: MySpace accepted $580 million to join News Corp., and YouTube took $1.5 billion from Google. Surely any smart entrepreneur would jump at a chance to piggyback on those deals.
Facebook CEO Mark Zuckerberg Talks to Diane Sawyer as Website Gets 500-Millionth Member
He stated that “It is really the people themselves who have gotten us to this state. I mean, we’ve built a lot of products that we think are good, and will help people share photos and share videos and write messages to each other. But it’s really all about how people are spreading Facebook around the world in all these different countries. And that’s what’s so amazing about the scale that it is at today, it is the users who deserve all the credit.” Zuckerberg told ABC News’ Diane Sawyer.
When he started the site with some classmates six years ago, the site, then called “The Face Book,” was only intended to connect students on one college campus. Since then, it’s grown into a global force that is redefining relationships of every kind from the aspect of personal to the political to the commercial and beyond.
“Well, what I think it’s doing is giving everyone a voice, right?” he said. “So, back, you know, a few generations ago, people didn’t have a way to share information and express their opinions efficiently to a lot of people. But now they do. Right now, with social networks and other tools on the Internet, all of these 500 million people have a way to say what they’re thinking and have their voice be heard.”
2. Execution can trump innovation
MySpace, Shutterfly and instant messaging platforms likeAIM and ICQ all predate Facebook’s founding in 2004. While Facebook didn’t invent the concept of social networking, they were able to aggregate numerous social networking concepts into a simple platform. Facebook’s merging of these technologies has been a huge success — and the number of Facebook users has grown exponentially as a result. Sometimes, executing on a vision is much more important than being the first.
Facebook is more than 500 million users for nowadays view, making it the biggest information network on the Internet in a meteoric rise that has connected the world into an online statehood of status updates, fan pages and picture exchanges.
In its six-year history, the site has become ritualized in our daily lives. It has even attracted the unwilling who join for fear of being cut out of the social fabric. It has connected old friends and family. It has helped make and break political campaigns and careers. It has turned many of us into daily communicators of one-line missives on the profound and mundane. And it has tested the limits of what we care to share and keep private.
3. Mistakes become mistakes when you let them
As a young leader, co-founder Mark Zuckerberg has admitted to his share of mistakes. And despite Zuckerberg’s well-chronicled follies, Facebook continues to grow. Perhaps this growth is directly related to how Zuckerberg responds to his mistakes.
For example, Facebook famously bungled the introduction of its first news feed. Essentially, every post a member made on their wall was shared with their entire network. One member, Ben Parr, started a group called “Students against Facebook news feed,” and its membership swelled to 750,000 users within a week. Instead of digging his heels in, Zuckerberg sent Parr an email asking for his advice on what Facebook could do better when introducing new products. Instead of creating an enemy, Zuckerberg developed an ally.
4. The devil is in the details
At the time of the dot com bubble, many Silicon Valley offices were filled with games, foosball tables and other distractions — and the reasons were never very clear. Likewise, Facebook has its own laundry room along with multiple cafes that serve great food. The office is also designed in a very open fashion. But the Facebook leadership team thought strategically about these perks. They want to make it a place where people can simply focus on “building things” — and removing the distractions of laundry and where to go to lunch allow employees to do just that. The open floor plan enables their 1,600 employees to know what’s going on throughout the buildings. Giving thought to these seemingly minor issues has the potential to drastically improve the working environment and employee engagement.
5. Ownership matters
Facebook has been estimated to be worth as much as $35 billion. Recently, a New York man has come forward to claim that Zuckerberg signed an agreement that gives him an 84% ownership stake in the company. While Facebook lawyers suggest that the contract was forged, it does raise the question of ownership.
Up until this point, Facebook has refrained from issuing an IPO, which would make all of the funding venture companies, along with Facebook founders and employees, incredibly wealthy. But while Zuckerberg has indicated that Facebook will have an IPO “when it makes sense,” ownership of the company matters. Although reportedly profitable, Facebook has been assisted by continual venture funding. Once the IPO occurs, Zuckerberg will have a lot of people to answer to, and his leadership style will need to change accordingly.
Criticism often accompanies success. But for a 26 year-old who’s worth a reported $4 billion, Zuckerberg seems to be handling his leadership role well, and he continues to mature. Let’s hope that continues.
Why facebook so popular?
Since 2004, Facebook has introduced throughout the world, especially, youngsters are the main factors that contributes significant results to stay in touch with each others.
Nowadays, if you do not have own Facebook account, you are consider as pretty much a social pariah. The usefulness of Facebook is to merge businesses and entrepreneurs in with individuals in something that other social networks like what MySpace did previous years and received unsatisfied result. On Facebook, it has the potential application for commercial and advertisement to capture user`s perception.
Chamath, Facebook’s vice president of user growth, mobile and international, is getting ready for Mobile World Congress in Barcelona emphasize on, we want as many people as possible to be able to access Facebook all the time, regardless of where they live or what device they carry.
Today, we hit another milestone toward that goal, with more than 100 million people actively using Facebook from their mobile devices every month. This usage happens on almost every carrier in the world and comes less than six months after we announced 65 million people on Facebook Mobile.
Through this growth, the team has continued to try to improve the experience of these mobile products. We work with every major device manufacturer and many operators to ensure that we can provide the best possible mobile experience across the thousands of different devices, mobile operating systems and carriers you rely on.
With every new feature or product we bring to mobile, our goal is to offer the same value and user experience that people know on Facebook. Here are some of the recent mobile products we’ve launched with that goal in mind:
Mobile websites: Our mobile sites m.facebook.com and touch.facebook.com have been redesigned, enabling people to access Facebook from any mobile browser in more than 70 languages. With the explosion of smart phones, we want to make sure people have a great Facebook experience that scales with their device especially as people have begun to upgrade their devices more frequently.
Text messages: More than 80 operators in 32 countries enable millions of people around the world to stay connected and communicate with their friends on Facebook using SMS text messages. Recently we also launched a URL-shortening service called FB.ME that makes it even easier for people to share content. With FB.ME, you can share and access more through services like SMS that limit the number of characters in messages.
Applications: Facebook is already one of the most requested services on mobile, and we work with every major device maker and mobile operating system to bring applications and integrations to all platforms. We’re always improving these applications and have recently released updates for our applications on Android, Blackberry, iPhone, Nokia and Samsung. We also support a broad range of new Facebook experiences on devices from HTC, INQ, LG Electronics, Palm, Sony Ericsson and Microsoft’s Windows Mobile.
No matter which mobile device you own, as long your mobile have the ability to capture internet access, you can always stay connected through Facebook
using our mobile applications, sites or SMS. Find the right Facebook Mobile product for you at www.facebook.com/mobile. This system allows more people to have the opportunities to stay in touch or keep up to dates with the new feeds with friends and families.
Team of management
Regards as Facebook applications, the management team often develop a new way of strategy by strengthen up their service by interact with the customers in an indirect manner. Through Facebook applications, users can have the access and ability to connect both sustain and develop customer relationships.
Branded Facebook application act means engaging customers aware of brand loyalty
Interactive application connects with consumers to interact around, making new friends.
As user, you can aware of various marketing advertisement through the Facebook applications. Provide opportunities of what you seek for.
Generate traffic by creating awareness among non-users through newsfeeds and updates by existing users.
Role playing games
“RPGs” are one way to take customers into an imaginary world and engage them, generating revenue in a new way.
Let users compete for status, leader board rankings or just for fun.
Let users send branded virtual gifts to their friends directly from your Facebook Fan Page.
Enable users to perform their daily activities, such as sharing with their friends, using utilities like “Bumper Sticker” and “Big Photo.”
Give users the ability to submit, view and rate user-generated media with the protection of brand-controlled moderation.
No really annoying ads. Many of the ads on Facebook are repetitive, but they’re not repulsive like the advertisements you see at MySpace. They’re also targeted, so many times you will find things you really are interested, and this can lead to new hobbies and good and relevant finds.
It’s all about the games and apps. Facebook has a wildly extensive library of addictive games and add-ons that keep people coming back to the site. Many of the social games available reward their players for spending lots of time online, or coming back online at regular times to complete game objectives. Many people will spend countless hours on these online games, and periodically check their News Feed to see if anything interesting is happening.
It plays to people’s vanity. People like to talk about themselves, especially when they think they have an audience. Many people post many updates every day on how their day is going. If they have 100 or more friends they may feel that all of their friends are keeping up to date with them, when in fact chances are they’ve all hidden that person from their News Feed.
People are social animals. There will always be a social network available for people to use online. Right now it’s Facebook. In two or there years it might be something new or it could still be Facebook. The future is unclear, but what is known is that Facebook has carved it’s place in history as the preeminent social network at the time of this writing.
Facebook Fan pages
One of the common Fan pages that users adoptin. Facebook page provide valuable opportunity to interact with your friends and family. Fan pages are not just interactive: they can also be fun, provided they accurately represent your customer profile. The opportunities that a fan page can offer you as for business purpose, this include as:
Reaching your customers: Interact with your customers and educate them about your latest developments. Attract new customers and retain the existing ones.
Marketing yourself: With social media, sky is the limit! Now you can easily market your products and services on a more interactive and engaging platform.
Tracking, measuring and analysis: Now you can access key information about your fans, including age, gender, social affiliations and – most importantly – likes and interests!
Entertainment: Fan pages for celebrities, cartoons, movies and musical groups can be developed to interact directly with fans and provide them with regular updates on what’s new and happening.
There are four reason why Facebook can be Internet enthusiasts?
Upload unlimited photos. Facebook is the most popular website for its uploading photos. In fact, there are more than 14 million photos can be daily. Not only can users upload unlimited photos, users can also add tags or commenting on user`s friend`s photos. By the attachment of the photo, user will know where or when your friends captured. Besides that, users can embed and upload unlimited of videos through the web or through mobile phone with connection of Facebook Mobile. Sharing memorabilia has never been this fun and easy.
Be ‘in the know’. Do you always want to know what your friends are doing without using instant messaging softwares like Yahoo! Messenger or MSN? With the help of Facebook’s STATUS feature, you can see and knowing what your friends are up to without having webcam or texting message to know what they up to? With the feature that provided by Facebook, this can definitely save a lot of time and effort. This also works vice versa because Facebook users can also update their friends on what they are up to.
In addition, you can let your friends know if there are upcoming events like parties, conferences or social gatherings in your community. You can put all tons of kind details and send mass invitations.
Interact with friends through games and other applications. Like I mentioned earlier, Facebook changed the way people use applications for social networking websites. Applications like games and tests (Poker, Trivia Games, Get-to-know-yourself tests, “What does your birthday mean?” test, “Are you Normal?” test, etc) are being used to encourage more social interaction through the Internet. You don’t have to meet each other face to face to be able to play poker.
Send gifts! – A gift! With Facebook’s Gift feature, you can select from hundreds of icons from Facebook’s virtual gift shop and add a message to send to your friends based on how you felt on that particular day. You can send flowers, shoes or even a bone to your friend’s virtual pet. If it’s a more personal gift, you have the option to give it privately so others wouldn’t know. This will allow users to have sufficient personal space to interact each other without get outsider interface.
Is Facebook the only major internet company with a dedicated team focused on growth?
Twitter has an Onboarding team, which has very similar goals to the Growth team at Facebook, just with a different name.
Google has a very professional sales team around the globe. I would certainly say they’re focused on growth.
Overall performance of Facebook,
Based on the graph and chart above, we can notice the latest demographic data on
US Facebook users of February 1, 2009. Before jumping into the details below, here are
Facebook reporting nearly 45.3 million active US users in the last 30 days.
Facebook growing in every age/gender demographic. Fastest growing segment: Women
over 55, up 175.3% in the last 120 days.
Facebook growing faster with women than men in almost every age group.
Women comprise 56.2% of Facebook’s audience, up from 54.3% late last year. 45% of
Facebook’s US audience is now 26 years old or older.
Facebook US Audience Growth by Age and Gender
Facebook’s US audience has continued to grow in recent months, fueled by
expansion primarily in users 26 and older. Facebook has been growing rapidly amongst
people over 45 in the US, as the charts show below: over 165% amongst both men and
women 45-54 over the last 4 months.
Meanwhile, the fastest growing age group by total users is still 26-34, the number
of women over 55 on Facebook grew by an astounding 175.3% since the end of
September. Their male counterparts, however, weren’t able to keep up – growing by
only 137.8%. The number of women over 55 on Facebook almost double the number of
men over 55 on Facebook today.
Facebook US Audience by Age and Gender
Overall, women now outnumber men in every age group on Facebook. In total,
women now make up about 56.2% of Facebook’s US audience, up from 54.3% late last
year. Women most outnumber men in the 18-25 and 26-34 age groups, where there are
1.4 females for every 1 male on Facebook.
Facebook US Audience by Age
Overall, 45% of Facebook’s 45.3 million active users in the US is now 26 years
old or older. Nearly a quarter of all Facebook users are over 35 today – quite a change
from Facebook’s roots as a social networking tool for college students just a few years
Teenagers now make up about 12% of the overall Facebook audience. Facebook does not publish any data on users under 13, because the terms of service requires all users be at least 13 years old to join.
Facebook mulls $1 billion employee share sale: report
Facebook may have let its employees to sell up to $1 billion of their shares to institutional investors at a price that values the company at around $60 billion.
Mark Zuckerberg is questioning issue after entertaining approaches from a number of major institutions interested in investing in the world’s largest social network, claimed by the All Things Digital technology blog cited sources.
That valuation would surpass previous measures. During years founded by Mark Zuckerberg in a Harvard dorm room raised $1.5 billion of financing in a round led by Goldman Sachs, which valued it at $50 billion.
Facebook, whose online service counts more than a half a billion users worldwide, is expected to possibly go public around 2012.
A Facebook spokesman declined to comment.
Investors have been eager to buy shares of Facebook before then and have gone to private exchanges, where shareholders like venture capitalists and former employees have put some of their stock up for sale.
Facebook tightly restricts current employees from selling their shares on private exchanges, making it difficult for them to cash in on the company’s success.
In 2009, Facebook arranged for Russian investment firm Digital Sky Technologies (DST) to purchase at least $100 million of common shares from its employees. DST was also part of the deal led by Goldman Sachs.
Last year, which is 2009, Facebook overtook Google Inc to become the most visited website in the United States, according to online analytics firm Experian Hitwise.
The company is generating profits at a faster-than-expected rate, according to a document distributed by Goldman Sachs last month.
Facebook is among several fast-growing privately held Web companies, including Twitter, Zynga and Groupon, that investors have been anxious to buy into ahead of potential public listings.
But liquidity on private exchanges has been low and since Facebook so far has not been forced to publicly report its earnings there is little transparency for investors.
Copyright 2011 Thomson Reuters, SAN FRANCISCO | Thu Feb 10, 2011 6:22pm EST
Fulfillment of responsibilities towards customers and suppliers
A friendly user, Steven Grimm claimed that Facebook became his day and day routine, he had quite satisfied with the service he adopted with.
I had worked with Facebook vice president Jeff Rothschild at a different company in the mid-1990s, so when he called me in 2005 and asked me to do some contract work for Facebook, I was intrigued. Once I started, two things really impressed me. First, the brainpower of Facebook employees was very high. It was one of the highest concentrations of smart people that I’d ever seen. Second, the site was growing so fast, and touching so many people, that anything good you did would reach a wide audience just about instantly.
Steven still added in, day to day working with Facebook has its own limit of freedom. Direct management here can be invisible, and not in an opposite bad way. You can always tend to manage the people who need a lot of inspection. But, there`s always engineers that can be left alone, and that’s who we try hard to hire. It’s more of a research-scientist model. The managers’ role is to make sure people can work effectively and show a proper guide to accomplish an objective without being impeded by anything. Facebook lets that happen.
As a top manager, we are also encouraged to work on open-source projects wherever it’s appropriate. All the work I did on men power was contributed back to the public code base, and if we’re working on something brand new that’s a good candidate for opening up, there’s no problem taking the extra time to get it packaged and announced to the world.
As a top leadership in a company
Like Our CEO, Mark Zuckerberg, he can be a very tough guy. But he has his own spots of thinking and always allows others to approach him with various ideas. On the internationalization project, for example, we met with him to review the user interface before we launched. He looked at it and said: “That’s reasonable.” We had the freedom to go ahead with what we thought was the best approach. I think his insights have proven generally right. The success of our site speaks for itself.
How Facebook satisfied its customers?
Steven stated that, we are not in a situation where we have made promises to external customers, the main objective is we have to go on death marches to get things done on time. It is pretty reasonable here. We are trying to deliver great products to our end users, usually without having told them ahead of time what is coming. So we can adjust completion schedules or even change the specs if it is obvious that’s the right thing to do. We have more flexible time to control.
Provision of a certain standard or level of service
Steve expresses his feeling say that, I am not the only one that doing the job. Probably a quarter of the engineers have as much experience as I do. Our engineers have all kinds of backgrounds; some are fairly recent graduates while others have been working for 15 years or more. We try hard to keep the environment egalitarian, if you can make a solid technical case for something, you’ll convince your peers, whether you’ve worked at 10 previous jobs or none.
List of Referencing
Althea Marie Tan, Facebook social ads, “Why Facebook is so popular” (http://ezinearticles.com/?Top-Reasons-Why-Facebook-is-So-Popular&id=1089087) Viewed on 20th March 2011
BBC ( 21 September 2006, ) “Yahoo ‘to buy Facebook for $1billion” (http://news.bbc.co.uk/2/hi/business/5367120.stm), viewed on 18th March 2011
ELLEN MCGIRT (May 1, 2007) “Facebook’s Mark Zuckerberg: Hacker. Dropout. CEO.” (http://www.fastcompany.com/magazine/115/open_features-hacker-dropout-ceo.html), viewed on19th March 2011
Facebook application, “Services Dynamic Tiers of Work,” (http://www.avenuesocial.com/fb-app.php), viewed on 20th March 2011
Facebook Fan, “Services Dynamic Tiers of Work,” (http://www.avenuesocial.com/fb-fan-page.php, on 20th March 2011
Joe Frontiera. ( July 25, 2010) “Facebook’s leadership: Dissecting Mark Zuckerberg” (http://views.washingtonpost.com/leadership/leadership_playlist/2010/07/facebooks-leadership-dissecting-mark-zuckerberg.html) The Washington Post Company, viewed on 21th March 2011
John Harlow. (May 16, 2010) “Movie depicts seamy life of Facebook boss”
, (http://www.timesonline.co.uk/tol/news/uk/article7127721.ece), viewed on 18th March 2011.
Justin Smith (February 2nd, 2009)”Fastest Growing Demographic on Facebook”(http://www.insidefacebook.com/2009/02/02/fastest-growing-demographic-on-facebook-women-over-55/), viewed on 21th March 2011
KI MAE HEUSSNER. (July 21, 2010) “Facebook CEO Mark Zuckerberg Talks to Diane Sawyer as Website Gets 500-Millionth Member” (http://abcnews.go.com/WN/zuckerberg-calls-movie-fiction-disputes-signing-contract-giving/story?id=11217015), viewed on 19th March 2011.
Nic Lino, (2011) EzineArticles.com ” Why Facebook so popular” ((http://ezinearticles.com/?Why-is-Facebook-So-Popular?&id=4130894), viewed on 19th March 2011
Steven Grimm, Education B.A. computer science, UC-Santa Cruz, Prior jobs, Sun Microsystems, Enterprise Integration Technologies, HearMe, etc (http://www.facebook.com/careers/story.php?story=2), viewed on 21th March 2011
Thomson Reuters, SAN FRANCISCO (1996-2011) “Facebook mulls $1 billion employee share sale: report” (http://www.reuters.com/article/2011/02/10/us-facebook-idUSTRE7196W32011021
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