Online MBA

Facebook: Facts You Didn’t Know

May 17, 2010

Projected to be worth between $8-$11 billion, Facebook is the second leading website in terms of number of visitors daily. Currently, 400 million people log onto Facebook at least once a month, and half of those users are on the site every day. Facebook has expanded its primary purpose of social networking to allowing users to play all types of game apps and even conduct their own entrepreneurships. Profits are generated through advertising and virtual products. The personal information provided on user profiles allows advertisements to be specified at certain markets and demographics, rather than to the general public. Business at Facebook is growing rapidly as applications become more and more integrated into daily life. For example, the Australian court system can serve summons through Facebook, and is considered legally binding. With social networking such a new phenomenon, it’s important for the future MBA graduate to understand the neophyte beginnings of such a business tactic and the following infographic shows just how far Facebook’s come and how much revenue it generates as a social marketing experiment.

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