The Facebook Effect

Sometimes I wonder if there are many places on Earth where

people haven't heard about Facebook yet, or where there are

communities of individuals who have said "no" to the tempting

offer of creating a Facebook account.

Whether we like Facebook or not, the social media giant has

managed to attract the interest of billions of people worldwide.

According to its own stats, the platform has over two billion users

now - about 27% of the world's population!

Facebook already has a history of more than ten years of existence,

being used by more than 2 billion persons at least on a monthly

basis. And once they log in, the users spend on the site at least one

hour.

Mark Zuckerberg and his Harvard College roommates came up with

the idea of creating a social networking site several years ago. The

network they started was dedicated to Harvard students, but then

it spread like wildfire to many educational institutions in Boston,

and from there into the entire world.

Its name comes from the face book directories that are usually given to college students in North America.

A typical face book contains pictures and a few bits of information about each person.

The value of Facebook on the market has skyrocketed. Recent reports show that its value exceeded $500

billion a few months ago. That's a pretty impressive number, especially if you take into account the fact

that the network has been created by a 19-year-old student, in a college dormitory.

Facebook is one of the fastest growing companies in the world history. It plays an important role in the

social life of teenagers and adults as well, and it has also become an instrument that's used for protests and

political gatherings in many countries. There is no doubt that we are experiencing a phenomenon, because

Facebook continues to grow both its value and number of users.

Many books have been published on this topic. But one that stands out is The Facebook Effect, which was

written by David Kirkpatrick. The author has cooperated with several executives from the company, and

it shows! As soon as you start reading the book, you will discover lots of fascinating details: how it all

began, how fast the company grew in time, and where it is heading.

As you go through each chapter, I'm pretty sure that you will be impressed by Mark Zuckerberg's focus on

Facebook's growth, rather than immediate profits. You will also discover that the founder was planning to

transform the social media service into the main form of communication throughout the entire internet

from the very beginning.

The book offers many little-known details; you will discover not only the initial financing methods, but

also the names of many corporations that have tried to buy Facebook from its owner.

Microsoft, Google, Yahoo or Viacom are just a few of the huge companies that have tried to purchase

Facebook - and failed to do so. And, guess what? Microsoft was allowed to purchase 1.6% of the company

in exchange for $240 million, back in 2007. At the current market value, the software development

company has made about $8 billion - not too bad, for a quarter of a billion investment!

Kirkpatrick dedicates an entire chapter to the rapid growth of the company, and several others that help

us understand Facebook's unique features when compared to other similar social media sites. A lot of

attention was given to user data privacy, and the author describes the challenges faced by the company in

this area.

I guarantee that if you want to learn more about Facebook, your expectations will surely be met by

reading this book. It gives you a lot of information, showing Facebook's evolution over the years, and

makes you feel closer to its creator, his philosophy, and his plans regarding the future of Internet-based

communication.