Facebook is one of the most widely used social media platforms in the world. With over 2 billion monthly active users as of 2022, Facebook has become an integral part of many people’s lives for connecting with friends, family, and communities. But there is much more to Facebook beyond status updates and photo sharing. Here are 10 interesting facts about the social media giant.
#1 Facebook was founded in 2004
Facebook was founded in 2004 by Mark Zuckerberg along with fellow Harvard students Eduardo Saverin, Dustin Moskovitz, and Chris Hughes. Originally launched as TheFacebook.com from Zuckerberg’s Harvard dorm room, the site was created as a social networking platform for Harvard students to connect with each other online. The site quickly expanded to other colleges in the Boston area, the Ivy League schools, and gradually other universities in the United States and Canada. Facebook dropped “The” from its name and officially opened registration to anyone with a .edu email address in 2006. Later that year, high school students and eventually anyone over the age of 13 with a valid email was allowed to join.
#2 The name Facebook comes from printed facebooks of college students
When Mark Zuckerberg was creating the initial website at Harvard, he wanted to call it TheFacebook as a nod to the printed directory books of students’ photos and basic information handed out to freshmen, commonly known as facebooks. These books helped new students get familiar with their incoming classmates. While the printed facebooks only covered a single school or campus, Zuckerberg’s version was designed to connect multiple college networks on one site. Although the company dropped “The” from the official name in 2005, the origin story behind the name Facebook lives on.
#3 Facebook went public in 2012
After years of private funding rounds and growing user base, Facebook held its highly anticipated initial public offering (IPO) on May 18, 2012. The company was valued at $104 billion after its first day of trading, setting a new record for tech IPOs at the time. However, the road to going public was not always smooth – Facebook endured scrutiny around its inability to monetize its platform efficiently in its early years as a private company. Its public offering was one of the largest and most anticipated in history, but also faced significant challenges. The IPO raised $16 billion for the company and turned founder Mark Zuckerberg into a billionaire overnight.
#4 Facebook acquired Instagram in 2012 for $1 billion
In April 2012, just before its IPO, Facebook acquired the popular photo-sharing app Instagram for approximately $1 billion in cash and stock. Founded in 2010, Instagram had quickly gained traction for its photo filters and simple interface for capturing and sharing images on mobile devices. The app only had 13 employees and no significant revenue at the time Facebook purchased it. However, Facebook saw immense value and opportunity in integrating the wildly popular app into its offerings. Since the acquisition, Instagram has continued to grow, reaching over 1 billion monthly active users worldwide as of 2022. The acquisition has been viewed as one of Facebook’s smartest investments.
#5 Facebook acquired WhatsApp in 2014 for $19 billion
In February 2014, Facebook acquired global mobile messaging service WhatsApp in a cash and stock deal valued at approximately $19 billion – Facebook’s largest acquisition to date. WhatsApp was founded in 2009 and allowed users to send text messages, photos, videos and more across devices and internationally with minimal data usage. The app quickly gained immense popularity around the world. At the time of the sale, WhatsApp had 450 million monthly active users globally. Facebook likely saw WhatsApp’s reach, especially in developing countries, as a valuable expansion opportunity for messaging and connectivity through its services. The monumental acquisition, while questioned by some at the time, secured Facebook’s position in the fast-growing mobile messaging space.
#6 Facebook’s headquarters is located in Menlo Park, California
Facebook has been headquartered in Menlo Park, California since its founding in 2004. Menlo Park is a city located at the eastern edge of Silicon Valley, approximately 35 miles from San Jose. Facebook moved into its first Menlo Park office – now known as the Classic Facebook campus – in 2005. As the company grew, it expanded into several surrounding buildings and relocated some teams to nearby Palo Alto. In 2011, Facebook moved into its current headquarters at 1 Hacker Way in Menlo Park, consists of a main building designed by Frank Gehry for over 2,800 engineers as well as multiple surrounding buildings and facilities. The iconic thumbs up sign in front of the main building has become a recognizable symbol of the social media company. Menlo Park’s proximity to Stanford University and location in the tech hub of Silicon Valley has likely contributed to Facebook’s lasting presence there.
#7 Facebook’s iconic “Like” button was almost a “Awesome” button
The ubiquitous thumbs up “Like” button seen across Facebook and other sites around the web was almost something different entirely. During its development, founder Mark Zuckerberg preferred the word “Awesome” as he believed it was more optimistic. However, the team raised concerns that the term “Awesome” could seem dismissive or sarcastic in certain contexts. After testing with focus groups, the team landed on the more neutral and universal term “Like”. First introduced in 2009, the Like button enabled users to interact positively with content in a low-friction way. It has since become one of the most instantly recognizable icons of social media. While the meaning of a Like can be ambiguous, it provides a quick way for billions of users to signal positivity or affirmation.
#8 Over 90% of Facebook’s revenue comes from advertising
The vast majority of Facebook’s multi-billion dollar revenue is generated from advertising. Like other major internet platforms, Facebook leverages its massive user base and data footprint for highly targeted advertising opportunities. In 2021, around 98% of Facebook’s $118 billion in total revenue came from advertising. Facebook enables advertisers to precisely target audiences based on demographics, interests, behaviors and more to maximize the reach and impact of ads across its platforms. Aside from standard display ads, Facebook offers advertising products for businesses to promote content, products, events and more. With billions of users around the globe interacting regularly, Facebook provides an unparalleled medium for marketers to connect with current and potential customers.
#9 Facebook has faced extensive criticism and controversies around privacy, censorship, and more
Facebook has faced no shortage of scandals, scrutiny, and controversies throughout its history around its policies, actions, and social impact. Major issues have included the site’s handling of user privacy, especially in light of Cambridge Analytica data scandal; spread of misinformation, election interference, and cyberbullying; contradictory policies on censorship and free speech; anti-competitive business practices; research on vulnerable populations; mental health impacts; and more. While Facebook has instituted changes and reforms when under fire, intense criticism remains around the company’s responsibility and ethics when handling sensitive issues at massive scale. However, Facebook’s position as a dominant force in social media makes substantive change challenging.
#10 Facebook has over 2.9 billion monthly active users as of Q3 2022
Despite controversies, competition from newcomers like TikTok, and shifting user preferences, Facebook remains the biggest social network worldwide. As of the third quarter of 2022, Facebook reported having 2.93 billion monthly active users across Facebook, Messenger, Instagram and WhatsApp – over 100 million more users than the previous year. Facebook’s namesake platform itself counted roughly 2 billion daily active users on average during Q3 2022. While user growth has been stagnant or declining in North America and Europe, meaningful expansion continues in developing global markets like Asia, Africa, and Latin America through Facebook’s family of apps. Despite questioning Facebook’s future, its immense reach through its existing platforms persists worldwide.
Conclusion
Facebook’s incredible impact on communication, culture, business and beyond is undeniable. From its college origins to present day controversies, the platform and company continue evolving in the face of opportunities and challenges. But fundamentals hold steady – Facebook retains tremendous value for connecting people and communities globally. With users soon approaching 3 billion people, it has become infrastructure enabling human interaction and expression. While the future remains uncertain, Facebook has undoubtedly changed the social media landscape permanently.