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hey guys today we're going to be looking : 2

into how facebook moved from a college : 4

messaging app : 5

to one of the most prominent apps in the : 6

world : 8

facebook has emerged over the years to : 10

become one of the largest tech companies : 12

in modern history : 14

depending on who you ask the story of : 16

how mark zuckerberg built a behemoth : 18

social network : 19

can be quite controversial if you've : 21

watched the 2010 film the social network : 23

then you have a clue of how facebook was : 25

launched in a harvard college dorm : 28

what is quite obvious is mark had a : 30

knowledge of basic programming skills : 31

from an early age : 34

he used these skills to design a : 36

software for his father's dentistry : 38

called zucknet this basic software : 42

allowed his father to communicate with : 43

his receptionist : 46

however it is at harvard that the : 48

foundation of what would end up as : 50

facebook was born : 53

mark took his coding skills to another : 54

level by developing face mash : 57

which was a website that allowed : 58

students to vote on the most attractive : 60

woman : 63

while the application was quite popular : 65

it did not last long : 66

as he did not seek the consent for : 68

publishing the student's photos : 69

[Music] : 71

it's on february 4th 2004 that what is : 74

facebook was launched : 77

the application's original name was the : 79

facebook launch : 81

and allowed users to upload a profile : 83

photo then share their interests : 86

people were able to connect with each : 88

other and this grew their user base from : 90

1200 : 91

to over 1 million at the end of the year : 93

[Music] : 95

this large user base was achieved as the : 97

site moved to other ivy league schools : 99

within the boston area : 102

mark sued by fellow students it was not : 106

smooth sailing for mark zuckerberg : 108

as he was sued by fellow students tyler : 110

winklevoss cameron winklevoss : 112

and divya narendra for stealing their : 114

idea : 116

the matter was finally settled in 2008 : 118

when mark reached a settlement with them : 120

by offering them 1.2 facebook shares : 124

when the site was incorporated in 2004 : 126

it moved its headquarters to palo alto : 128

california : 129

with sean parker as its first president : 133

the name the was dropped the following : 134

year and facebook.com domain was : 137

registered for 200 000 : 140

in august 2008 its user base was a : 143

whopping 100 million users : 146

in the following year the site had hit : 148

over 1 trillion page views : 151

facebook finally hit 1 billion users in : 154

2012 : 156

hence making it one of the most popular : 157

social media sites : 158

[Music] : 160

facebook user base has been on a : 162

phenomenal growth from its start : 164

where it barely had a million : 165

subscribers to over 2.5 billion at the : 168

end of 2018 : 170

however from 2015 to 2018 the growth has : 173

been slower : 175

expansion plans once the company was : 178

registered : 179

it continued to expand rapidly into : 181

other products : 182

in 2007 facebook started its facebook : 185

marketplace : 186

which now allowed them to classify ads : 190

in 2008 the facebook chat was launched : 193

and this took the idea of : 194

instant messaging to another level when : 196

the company was launched it benefited a : 198

lot from angel funding : 200

receiving five hundred thousand dollars : 202

from paypal co-founder peter thiel : 204

12.7 million from excel and one million : 207

from venture capitalist jim brayer : 211

facebook also launched the facebook : 213

application developer platform : 215

that allowed game developers to create : 217

games that would integrate with facebook : 219

one of these games was farmville that : 221

ended up being a big success : 225

becoming the greatest facebook went : 229

public through an ipo in february 1 : 231

2012. according to the prospectus : 236

it was seeking to raise 5 billion : 240

at this time the company had 845 million : 243

active monthly users during the : 245

valuation : 246

the shares were valued at 38 dollars : 249

hence making the company worth 104 : 251

million : 253

mark retained 22 ownership after the ipo : 256

and 57 of the voting rights : 260

the ipo ended up breaking in 16 million : 264

mark zuckerberg now had a net worth of : 266

19 million : 268

today the company has a net worth of : 270

over 600 billion : 272

and annual revenues of over 70.7 billion : 275

as at 2019 with more than 2.5 billion : 278

users : 280

in april of the same year facebook : 282

acquires instagram for 1 billion : 285

the following year 2013 facebook joins : 288

the fortune 500 club at number 462. : 292

the company later purchased the popular : 294

instant messaging app whatsapp : 296

in 2014 for an estimated 19 billion : 300

the company also added more reactions : 302

for people to love : 304

hate sad or wow a comment : 308

the company's acquisitions also ventured : 310

into virtual reality when it purchased : 312

oculus vr : 314

this showed facebook commitment to : 316

developing futuristic products to serve : 318

their growing user base : 321

from the graph you will notice that : 322

growth and usage of instagram and : 324

snapchat grew very fast : 326

from 2017 to 2018 while that of facebook : 329

was almost flat : 331

at the end of 2018 the growth for these : 334

two apps : 334

was getting closer to that of facebook : 338

controversies even though the facebook : 342

story is one of huge success : 344

the company has not been without : 345

controversy : 348

the first has involved the emergence of : 350

fake news and data privacy concerns : 353

when the platform was open to everyone : 355

it did attract a lot of unsubstantiated : 357

news stories : 359

people would publish news stories that : 361

were not true in an effort to push their : 363

advertising ads : 365

this matter further took center stage : 367

during the 2016 u.s election : 369

where the company was accused of : 371

influencing voters by allowing certain : 373

russian firms to purchase ads : 375

to spread fake propaganda the ads were : 378

believed to influence the outcome of the : 380

elections : 382

facebook later in september 2017 : 385

provided congress with data : 386

showing ads that were linked to internet : 388

research agency : 390

in january 2015 facebook introduced a : 393

new feature : 394

that tries to flag a story as false : 396

however this did not work as intended : 398

as some items found a way to filter : 400

through the system : 402

the company did find a way through the : 404

fake news mess by allowing posts from : 406

family and friends to take precedence in : 408

one's news feed : 409

the company also added an algorithm that : 412

would judge informative articles : 414

and put them ahead of the rest on the : 415

news feed in 2017 : 417

facebook launched its journalism project : 420

this was an attempt to bridge the gap : 422

between facebook and professional : 424

journalism : 426

in the project one would be taught how : 428

to spot fake news : 431

the company has also been accused of : 432

violating data privacy laws by allowing : 435

third-party apps to access user data : 439

one of these companies was cambridge : 440

analytical : 443

future of facebook the future for the : 446

company is going to be focused on : 447

establishing their existing apps : 449

like instagram messenger and whatsapp as : 451

family applications : 454

the company has been losing ground with : 456

the younger generation who are migrating : 458

from the platform : 459

and it is the desire for the company to : 461

leverage artificial intelligence to : 462

boost demand and content : 465

revenue growth will continue to be on : 466

the rise and it will be interesting to : 468

see how far the company can go : 471

the main source of revenue for facebook : 473

continues to be advertising revenue : 475

new revenue streams will include : 476

facebook's foray into the mobile market : 479

what do you guys think about facebook : 481

growth do you still use the application : 483

to communicate with family and friends : 485

how about its future don't forget to hit : 488

the subscribe button : 489

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