Entrepreneur Stories
The Creation Of Facebook!
Facebook is the world’s most popular social media network with two billion monthly active users.
Mark Zuckerberg has ultimately redefined the future of the internet!
The famous Mark Zuckerberg’s Facebook was founded while he was studying at Harvard University along with his roommates.
It all began with the creation of a website called Facemash.
Being a keen computer programmer, Mark Zuckerberg wrote a software when he was in his second year of college. He wanted to create an online network where people could stay in touch with each other. So, in 2003, he came up with a software for a website called Facemash. He made good use of his computer and coding skills. He hacked into Harvard’s security network where he copied the student ID images used by the dormitories. He used them to overrun his website along with his friends. However, the site was shut down by Harvard authorities. Zuckerberg had to face serious charges of breach of security, violating copyrights and violating individual privacy for stealing the student photos he used to populate the site. Alongside, he also faced expulsion from Harvard University for his actions. Days later, all charges were eventually dropped.
A year later, the transformation of a Harvard University networking website to a global social media phenomenon took place!
On February 4, 2004, post the Facemash expulsion he launched a website called “TheFacebook” along with the help of his friends.
However, a week later he got into trouble again as Harvard seniors, Cameron Winklevoss, Tyler Winklevoss and Divya Narendra accused him of stealing their ideas for an intended social network website called HarvardConnection and of using their ideas for TheFacebook. They filed a lawsuit against Zuckerberg, but the matter was eventually settled out of court.
He dropped out of college to start his company as he was desperate enough to make it big!
Eduardo Saverin, Dustin Moskovitz, Andrew McCollum and Chris Hughes joined Mark Zuckerberg to help manage the growth of the website. In 2005, The company changed the site’s name from TheFacebook to just Facebook after purchasing the domain name facebook.com for $ 200,000. The same year, It received its first investment from PayPal Co founder, Peter Thiel.
Zuckerberg’s legal advisor, Napster Founder and Angel Investor, Sean Parker became Facebook’s president.
In 2005, Venture Capital firm Accel Partners invested a whopping amount $ 12.7 million in the company. It enabled the creation of a version of the network for high school students.
Facebook later expanded to other networks such as employees of companies. Followed by the success of Facebook, people loved the idea of connecting to their friends and family via the social networking website. The interface and features of Facebook were liked by everyone and soon it became the global social media phenomenon.
Facebook is a free social networking website that allows registered users to create profiles, upload photos and videos, send messages and keep in touch with friends, family and colleagues. The site is available in 37 different languages.
At the age of 23, Zuckerberg became the youngest billionaire in the world. By 2009, Facebook had now become the world’s most used social networking service.
Post the success of the website, In 2010, he signed a pledge, along with other wealthy businessmen, to donate at least half of his wealth to charity. Zuckerberg and his wife, Priscilla Chan, have donated $25 million toward fighting the Ebola virus and announced that they would contribute 99% of their Facebook shares to the Chan Zuckerberg Initiative to enhance lives through education, health, scientific research, and clean energy.
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