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November 06, 2012
Group owner Richard Martine

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Facebook

By: Richard Martine   Post Date : November 06, 2012
The brainchild of Mark Zuckerberg in 2004, with an estimated revenue of 4.27 billion (2011) is a social networking site that has been the subject of numerous articles, books, and a movie, titled, The Social Network. As of September, 2011, Facebook reports over 800 million active users. Facebook has changed the way the world communicates, enables multimedia experiences across the globe, and has tightened the ability of business people and entrepreneurs to target specific demographics, and build their brand. Due to its access to a variety of details pertaining to its users, Facebook has the ability to help business owners zero in on specific demographics that may have eluded other types of online advertising vehicles in the past. However, this same ability has been harshly criticized and placed Facebook in the middle of several lawsuits.

Facebook has enjoyed a wildly successful and profitable journey and have received numerous awards and recognitions. Here are three:

1. Word of the Year: In 2008, Collins English Dictionary declared Facebook as its new word of the year, and in 2009 the Oxford Dictionary declared `unfriend' (a Facebook term which means to remove a person from your list of friends) as their word of the year. Critics stated that this type of recognition is just another way to create buzz for the publications, but it also indicates the impact of Facebook on the English culture.

2. Top Site: In April of 2008, Facebook went beyond MySpace as the leading social networking site in the world. With over 800 million active users, Facebook is well ahead of the pack.

3. Facebook Presence: Facebook is a vital and successful presence throughout the world. Some countries have banned the use of Facebook for a variety of reasons. China, Vietnam and Iran have all banned Facebook at one time or another, some stating anti-Islamic bias. However, the highest presence takes place in the following countries; 1) United States, Indonesia, India, and the United Kingdom.

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