Social networking sites are the cheapest and most convenient mode of communication. Facebook is one such site that has had a stupendous growth rate. Started in the year 2004 by a sophomore at the Harvard Business School, Mark Zuckerburg is the face behind Facebook. With 66 mn users, Facebook is the most sought after social networking sites, beating the likes of Myspace.com and Orkut.
I guess what’s impressive is the rate at which Facebook has grown. The number of active users of Facebook has grown from 7mn to 66mn (that’s a whopping 843 per cent) in a period of just 2 years. Companies like Microsoft and Digital sky technology have been astute enough to have bought stakes of 1.6 and 1.96 per cent respectively.
As per recent articles, the net worth of Facebook stands at $10 bn (that is larger than the total IT/ITeS sector in India). While most analysts believe that the figures are exaggerated and over valued and there, all I can say is that recession seems to be miles away from Mr. Mark Zuckerburg. The man definitely seems to be rolling in money.
