In this digitalized era, someone exceptionally may not be familiarised with the Facebook. It has emerged as the largest social media stock and one of the biggest stocks in all of the tech giants. It has done so by captivating 3.2 billion monthly active users to one of its family of sites i.e., Instagram and WhatsApp). It doesn’t go wrong if said that the Facebook company has created a type of monopoly which cannot be shattered by any other alternative project.
Recalling the facts
Who knew that a person’s interest in computer programming would one day turn out to become a huge platform that would connect people across the globe? The Facebook story inspires us to stand tough times and emerge victorious. A student of Harvard University, Mark Zuckerberg’s project of FACEMASH (app that compares a person’s face to other apprising who is more good looking) got into trouble when the website went popular that had seen 22,000 pictures within few hours and the data privacy was brought in concern. Later on, the project received a negative nod. But all of this didn’t shake the man and made him come up with the new project ‘The Facebook’ before 2004.
How it created its market
First mover always upholds that first place in the people’s interest which Facebook had done very well. It created an ecosystem giving a platform that connects people with their emotions by exploring the world. It transfigured people’s emotion into opportunities for them to widespread their markets. It provided many services on one single platform. It is not only limited to the extent of people connecting with people but have also opened the way and made it cheaper for the promotion of businesses as well.
Facebook went on with the principal of “A pessimist sees difficulty in every opportunity but the optimist sees opportunity in every difficulty.” The social media company has come up with the changes that need to be done to be the coin of the successful industry with the dynamic changing environment as required.
Era of competition
In this era of competition, Facebook is highly promoted by its officials, understanding the hike of degree of competition. After splashy 19-billion-dollars acquisition of WhatsApp in 2014, it has focused on smaller start-ups. Since 2017, the company has made an investment in nearly 30 firms including GIF search engine giphy in May and neural monitoring start-ups Ctrl last year. Facebook is pushing hard to establish its presence in virtual reality because it represents a unique opportunity for the social media player to establish itself as a leader to deliver state-of-the-art products and services to its user.
What is supposed to be expected about upcoming plans, strategies or investment
Indian market is believed to fuel the expansion plans of investors of Facebook. At present, there are numerous internet users for the world’s largest technology companies including Amazon, Apple, Microsoft and Google. In view of this opportunity, few months ago, Mark Zuckerberg – the most important executive of the company – was directly involved in the statement of making another run at building a shopping empire and commerce. The library association which manages Facebook cryptocurrency project now turned diem associations is going to serve as a payment system operator.
As per the reports, Facebook incorporation said that it would buy a customer service startup Kustomer. Kustomer allows businesses to aggregate customer conversation into a single screen.