Facebook (social network)
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| Facebook (social network) | |
|---|---|
| Name | |
| Type | Subsidiary |
| Industry | Social networking service |
| Founded | February 2004 |
| Founder | Mark Zuckerberg; Eduardo Saverin; Andrew McCollum; Dustin Moskovitz; Chris Hughes |
| Headquarters | Menlo Park, California, United States |
| Area served | Worldwide |
| Products | Social networking, messaging, advertising |
| Parent | Meta Platforms, Inc. |
Facebook (social network) is an online social networking service launched in February 2004 by Mark Zuckerberg with Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes while at Harvard University. It grew from a campus directory into a global platform central to the activities of users, advertisers, and institutions, intersecting with entities such as Apple Inc., Google, Twitter, YouTube, and Microsoft. The service has been at the center of debates involving figures like Sheryl Sandberg, Sundar Pichai, Elon Musk, and institutions such as the Federal Trade Commission, European Commission, Cambridge Analytica, and National Labor Relations Board.
History
Facebook was created in the context of early 2000s social software projects and academic initiatives including Friendster, MySpace, LinkedIn, LiveJournal, and Orkut. Early growth involved expansion from Harvard University to the Ivy League and then to institutions such as Stanford University, Yale University, University of California, Berkeley, and Massachusetts Institute of Technology. The company relocated to Palo Alto, California and later to Menlo Park, California and attracted investment from entities like Accel Partners and individuals such as Peter Thiel. Major milestones include the introduction of the News Feed, the acquisition of Instagram, WhatsApp, and Oculus VR, the initial public offering that interacted with markets like the NASDAQ, and corporate restructuring culminating in the formation of Meta Platforms, Inc. and the appointment of executives connected to boards including Betsy DeVos critics and allies. Legal and regulatory events involved litigation referencing statutes such as those adjudicated by the United States District Court for the Northern District of California and policy actions by the House of Representatives and European Parliament.
Features and Services
Facebook provides features including profile pages influenced by designs from projects like Diaspora, a News Feed algorithmic timeline comparable to Reddit feeds, friend graphs akin to concepts from SixDegrees.com, Groups similar to Yahoo! Groups, Pages for organizations like The New York Times and BBC News, Events resembling functions in Eventbrite, and Marketplace competing with Craigslist and eBay. Messaging evolved through standalone apps related to Facebook Messenger and the acquisition of WhatsApp, integrating protocols similar to those used by Signal (software). Multimedia hosting supports content from creators affiliated with entities like YouTube, Vimeo, and news outlets such as CNN and The Washington Post, while advertising tools intersect with services offered by Google Ads and Twitter Ads.
User Base and Demographics
Facebook's user base spans geographies including the United States, India, Brazil, Indonesia, and Mexico, with demographic shifts noted among cohorts studied by researchers at institutions like Pew Research Center, Oxford Internet Institute, Harvard University, and Stanford University. Adoption patterns compare to trends observed in Snapchat, TikTok, and Pinterest, and have influenced media consumption for broadcasters such as NBCUniversal, CBS, and The Guardian. Age, gender, and regional metrics have been analyzed by organizations like DataReportal and regulators such as the Australian Competition and Consumer Commission.
Privacy, Security, and Controversies
Privacy and security controversies implicated actors including Cambridge Analytica, Aleksandr Kogan, and investigations by the Federal Trade Commission, UK Information Commissioner's Office, and European Data Protection Supervisor. Issues involved data practices scrutinized alongside laws like the General Data Protection Regulation and litigation before courts such as the European Court of Justice and the United States Court of Appeals. Content moderation raised debates featuring commentators from New York University, Columbia University, and policy-makers in the United Kingdom Parliament and United States Congress, with incidents connected to misinformation in elections involving 2016 United States presidential election, Brexit referendum, and campaigns in countries such as Brazil and India.
Business Model and Financials
Facebook's revenue model centers on targeted advertising similar to platforms run by Google LLC and Twitter, Inc., relying on data-driven tools comparable to those offered by Oracle Corporation and Salesforce. Financial reporting to regulators like the Securities and Exchange Commission and listings on exchanges such as the NASDAQ have documented revenue streams, acquisitions including Instagram and WhatsApp, and expenditures on hardware projects through subsidiaries tied to Oculus VR and partnerships with manufacturers like Samsung Electronics. Economic scrutiny involved analyses by institutions such as the International Monetary Fund and antitrust inquiries by the Department of Justice and European Commission.
Technology and Infrastructure
Facebook's infrastructure integrates data centers similar to operations by Microsoft Azure and Amazon Web Services, uses programming and research from communities around React (JavaScript library), GraphQL, and open-source initiatives hosted in repositories akin to those by Apache Software Foundation. Engineering efforts intersected with academic collaborations at MIT, Carnegie Mellon University, and University of Cambridge, and drew on networking hardware from vendors like Cisco Systems and Juniper Networks. Security research and standards engagement involved groups such as Internet Engineering Task Force, Open Web Application Security Project, and cryptography work referenced by researchers at Stanford University.
Impact and Reception
Facebook's cultural, political, and economic impact has been assessed by scholars at Harvard Kennedy School, commentators at The Economist, and journalists at outlets including The New Yorker and The Wall Street Journal. The platform influenced movements and events such as the Arab Spring, political campaigns including 2008 United States presidential election, and public health communication efforts coordinated with organizations like the World Health Organization and Centers for Disease Control and Prevention. Reception ranged from praise by entrepreneurs like Mark Cuban and investors at Sequoia Capital to criticism from civil society organizations such as Amnesty International and Electronic Frontier Foundation.