Well, you tell me. Why did facebook took over from Myspace?By the end of 2010, there were 550 million users around the world and the number is still growing.
In 2011 Time Magazine predicted that if the growth rate continues Facebook could have more than 1 billion users by now.
Facebook has been increasing the number of languages the site can be used in and has added a translation program as well.
Mark Zuckerberg created the application in February 2004 and immediately recruited his friends Dustin Moskowitz and Chris Hughes. In only four months Mark Zuckerberg got Harvard and Boston universities to use his platform and some other 30 universities in the US.
But this guy had to move to Palo Alto in California to actually make it to the big investors. Peter Thiel invested $500,000. In 2005 Accel Partners invested $12.7 million. In 2006 Facebook received $27.5 million in funding from Greylock Partners and Meritech Capital, as well as from their first investors.
Not too bad for a company which started as an idea in a dorm room at Harvard, right?
What conclusions can we learn from this success story? What do you say?
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