Facebook Is A Multi Billion Dollar Corporation

So many users of the internet blindly browse and post on these sites without any thought to the online identity they are creating for themselves. Shares, tweets, hashtags, likes, and comments all combine to make up an amalgamation of marketable information. In November of 2016, an average of six thousand tweets were made per second, and ninety-five million Instagram posts were made per day (Sayce; Parker). Facebook “has become the largest database of personal information ever collected,” says Richard, and Facebook takes advantage of this. With almost two billion users, Facebook has no shortage of information to gather (Sparks). They do this mainly for targeted advertising. There is no small profit to be made in this. In 2011 Lori Andrews wrote, “Facebook made $3.2 billion in advertising revenue last year, 85% of it's total revenue.” However, Facebook and other internet corporations also relay data gathered on users to the

What once was a ad-less site, one where information and thoughts could be exchanged and debated, has turned into a retail paradise. The methodology behind Facebook’s income is simple, watch and respond. Let us take a real world example of Facebook’s intrusion: an individual posts on Facebook, for their friends to see that their sink broke. Weather it says they are looking for a plumber or not, Facebook will scan the post for keywords: Plumber. Then, as this individual is looking around Facebook, an ad for plumbing services will present themselves in a variety of marketing forms: video, text, or pictures.

Facebook is one of the top social media platforms with more than 1.23 billion active users worldwide. 62% of the 1.23 billion users log in on a daily basis making it the best medium to reach for new customers. Today, businesses both big and small use Facebook as an advertising source to help their brand expand.

Things such as, branding, customer engagement, publicity, feedback mechanism, and reputation management are example of Facebook helping businesses. Finally, Facebook has created a new revolutionary form of communication. Facebook has provided users the ability to communicate with family members and friends all over the world. Individuals who are unable to leave the house due to a disability or environmental factors find Facebook a way to deal with this isolation.

Facebook is a social networking site that is free of charge for its users. It allows the individual the opportunity to stay connected with friends and family, sharing updates, photographs and user status. The company grosses more than $1 billion per quarter in advertising revenue and online games (Ritholtz, 2014). In this respect, Facebook is much more that a social network. It is a versatile and sophisticated corporation that has revolutionized the way people share their lives and communicate. Their mission is “to give people the power to share and make the world more open and connected. People use Facebook to stay connected with friends and family, to discover what’s going on in the

The small space users are given to display their content free of charge (e.g., Facebook timeline) can be viewed advertising space that Facebook’s clients can use, which helps the company (Facebook) and its capitalistic partners make a profit at the expense of users. In exchange for the advertising space Facebook creates for their partners/clients, users are given an alternative for communicating with friends and loved ones, sharing their life events, and staying updated with things they have an interest in (e.g., favorite soccer team). In this sense, the millions of Facebook users are seen as another tool for creating surplus value (revenue). Facebook benefits from their users being active on their site because more opportunities are created that can benefit Facebook’s clients, which results in more alienation as most users are not guaranteed a return on their investment in Facebook (activity). Users constant activity on the site ensures that Facebook’s partners will have more people they can market their products to. Every update is organized so that Facebook’s clients are able to tap into different populations easier and more efficiently. In this sense, companies that purchase rights to advertise their products are the capitalist class that through Facebook are able to profit at the expense of the proletariat (users).

In this day and age, social media has become an integral part of our lives. It has created a platform for people to share information instantly and communicate with people all around the world. Facebook is the most outstanding example of successful social media network. According to the first quarter 2015 earnings announcement by Facebook, the site has achieved 1.44 billion active users per month, and 65% of which are daily active users. Other social networking sites such as Twitter, Instagram and LinkedIn are also a powerful means of communication. With such a large audience, social networking sites provide ample opportunities to acquire information, network, and connect with friends.

Facebook remains to be one of the most innovative social media network available. It first solely functioned as a messaging network for people around the globe, but now it has penetrated the digital marketing field and even solved various crime cases. It

First is the advertising. According to the case, we know that the major revenue of Facebook is advertising, which took up 98 percent in 2009, 95 percent in 2010 and 85 percent in 2011. Facebook uses all information uploaded by users to become the property of the firm. By analyzing database, Facebook provides advertisers target customized services and products based on users’ preferences and connections. In its view, the advertising which based on social

Facebook has become an incredibly powerful platform for businesses and organizations to build their community, engage with clients, prospects and suspects and encourage them to spread messages to a larger network. By creating a Facebook Page, a business can provide an information hub that users can choose to “Like.” Liking a Facebook Page is not too different from subscribing to a newsletter.

The marketing industry is an elaborate network that links companies to their consumers, primarily through written communication. The main objective of marketing is to identify trends and patterns in consumer behavior, and utilize the data to influence consumers to purchase more goods. From a macroenviroment standpoint, the general conditions of a market are heavily dependent on global environmental factors. The most significant factor that influences the markets today is technological advancements. Since the release of Facebook, Linked-in, Twitter, and Myspace in the early 2000s, the number of people using social media has increased to over sixty-five percent. The ever-growing dependency on social media platforms, has given marketers the tremendous opportunity to further market potential consumers. Social media marketing is a specific form of marketing that focuses on producing ad content that social media users will post on their own networks. This particular marketing technique is effective because ads and content are created, based on what personal information users post on social media. Firms and organizations that advertise their brands on social media are more likely to increase their customer base and annual revenue. By doing so, companies are able to increase exposure of their brand and widen previous hidden, customer bases. As a marketer, the fine line between right and wrong is often blurred. The amount and

Social media has made communication a lot more easier than ever before. Now, with a touch of a button people could communicate with anybody any where in the world. Websites such as Facebook makes communication with others an easy task. Facebook improved commucnication and even made communication a better experience. Facebook allow peole to share photos, post comments, and view people’s personal information. With almost 500 million users accounts, facebook is considered to be one of the most popular social media websites,most of the people use it as a substitute for real life human interaction.

Facebook, a social networking website, has changed the way people communicate with each other. A social networking website is an online platform that allows users to create a public profile and interact with other users on the website. Facebook has even changed our most personal and private conversations and how they are conducted around the world. Since the internet’s birth in 1983, this trend of online communication has been growing. Created in 2004, now registered with more than one billion participants, Facebook’s user numbers surpass even the top four social networking websites combined. According to Wikipedia statistics, Instagram has 300 million registered users, LinkedIn has 200 million users, Classmates.com has 50 million users, and Flickr has 32 million registered users. To be further convinced of the claim that Facebook indeed changes the way we communicate, you would only need to create your own Facebook account and start participating in their social networking experience. Technology and internet usage is fused into every aspect of our society including the style of communication. The launch of Facebook in 2006 also enabled other devices such as touch phones, interactive tablets, and even advanced cars with their own networking capabilities starting in 2007. Facebook is a multibillion-dollar company and is highly recognized for connecting more people than other networks. Facebook’s long-term success can be attributed to providing entertainment, world news, and

Facebook is an online social networking service company since 2004. It was started as the online platform to be connected for ivy-league university students and later extended to general public. It has a market worth of $ 148 billion in 2014 and has more than 1 billion subscribers online. The case illustrates about the exploitation of user data by Facebook to generate revenue. The user data is used to deliver to highest bidder and earn revenue.

One of the most used social networking sites nowadays is Facebook, created by Mark Zuckerberg on February 2004. According to Statista Inc., “there are about 1.32 billion global monthly active users of Facebook as of June 2014”. Locally, 34 million active Facebook users comprises here in the Philippines as of January 2014 (wearesocialsg, 2014). According to Mazman and Usluel (as cited in facebook.com) “Facebook is defined as a social utility that helps people share information and communicate more efficiently with their friends, family, and co-workers.”