Facebook is a popular social networking website across the globe, and it is gaining quality traffic consistently! Mark Zuckerberg and his college buddies started it in 2004. It was initially named FaceMash. They saw a hike in raffic, which led to the establishment of the famous social networking website Facebook Inc.
Facebook had many limitations first as personal computers were the only option, but they got many more users with the introduction of gadgets like smartphones and tablets! Many users enjoy the features Facebook keeps coming up with frequently.
Facebook gets most of its revenue from advertisements appearing onscreen and in the newsfeeds. In the initial stages, the network was limited only to Harvard university students, and then, later on, they gained popularity very quickly! The traffic escalated to 10 million users in just ten months. Facebook currently is the largest social media network, with 2 billion active users across the globe.
The design of smartphones and tablets aided in boosting Facebook’s traffic real quick! During this period, Mark Zuckerberg thought of buying a few companies and has famously acquired 72 companies in total. The most significant acquisition made by Facebook, it is none other than the popular Whatsapp Messenger, bought for $19 billion in February 2015.
One of Facebook’s early assets was FriendFeed, acquired on August 10, 2019, for $47.5 million, and some other famous ones are Instagram, bought for $1 billion in April 2012 and Oculus virtual reality for $2 billion in March 2014.
Facebook, later on, wanted some new source of revenue and consequently went on to buy LiveRail on August 14, 2014, for nearly $450 million!
Mark Zuckerberg made a statement in 2019, which said, “We have not once bought a company for the company. We buy companies to get skilled people. To have a really entrepreneurial culture, one of the fundamental things is to make sure we’re recruiting the best people. One of the ways to do this is to focus on obtaining great companies with great founders.” Other than the Instagram acquisitions, most of it was talent acquisition, and most of their acquired products are often shut-down.
An Infographic developed and designed by TechWyse, an SEO agency based in Toronto comprises of the entire list of companies Facebook has acquired so far since August 2005. The infographic gets updated frequently as Facebook acquisition continues its journey!
Facebook has been prosperous in acquiring many great companies. Facebook’s disclosed statistics on their expenditure so far showed an amount of $23,360,700,000 spent to date. These acquisitions made them what they are today.
Since its establishment, Facebook has always taken aggressive steps to acquire different companies. Their primary strategy for growing earnings was through diversification, and so it has emerged to be one of the most thriving companies across the globe.