Essay on Face Book

Submitted By toribug
Words: 1553
Pages: 7

Mission and vision: Face book’s mission is to give people the power to share and make the world more open and connected.” Facebook empowers its users to change the world by posting links, connecting with other influencers, sharing stories, donating and buying products. Facebook shifted their own power status by being more open and allowing the people beyond the elite league of social networking sites to join this site and allow developers to build applications on the platform. Since everyone seems to be on face book, every brand, Media Company, gamer, author, etc feel like to join the face book so that they can connect with the rest of the world. As Mark Zuckerberg said “it is portal of the masses. When the Facebook IPO was launched on the NASDAQ stock exchange, the founder of Facebook Mark Zuckerberg posted a vision statement on his own Facebook profile page which described about the Face book’s vision and value to the Facebook users as being the aggregator amongst the websites. (Facebook, 2012)
Strategic Goal:

Facebook isn’t just a social network, it is really a communication platform .If it is observed closely, and it’s not unlike an operating system on the web. Innovations such as instant messaging tool, application platform which allowed third party developers aren’t unlike Microsoft offers to the consumer. What separates them from other is the social news feed which aggregates them.

Facebook strategic goals to achieve their mission and vision are as follows:

Aggregator of all: Facebook wants its network to other locations and aggregate back to its website .This will help Facebook can be accessed from any form of digital medium, so the consumer can make decisions based on information from the peers and brand will pay money to be a part of it.

A new class of competitors-beyond social network: Facebook is an aggregator of all information that’s important to an individual and their friends. The existing web email systems like Gmail, hotmail, AOL, yahoo have shown indicators that they are thinking about heading this way.

Content to be more public-yet members may resist: The option to allow profiles to be public and the vanity URL are the indicators that they want to make information more public –yet it challenge will be convincing members to opt-in. as a destination isn’t as important: Facebook will need to spread many websites and experiences that is why Facebook connect matters. This will bring the era of social colonization which will empower the face book experience to spread to other websites.

Monetization engines to turn on: Face books 250 million user base is nearing mainstream web portals compared to Google and yahoo.

Financial performance: Facebook finally filed its prospectus to go public and it is now trading under the ticker “FB” on the NASDAQ. It is one of the largest IPO seen in NASDAQ.
Strong Income Statement Facebook has seen its revenue grow substantially from the year 2007 to 2011, increasing from $153 million to $3.7 billion. There are number of key factors which differentiate Facebook from other tech companies which have gone public in the past year. From the year 2010 and 2011 face books revenue has growth was 88% While Groupun and Zynga recorded year over year growth rates of 426% and 134%, respectively. Face book’s revenue growth has even been slower than that of struggling Pandora and LinkedIn. However, there are a few major differences between Facebook and these other highly publicized IPOs – Facebook has been profitable since 2009 and has seen its net income rise to almost $1 billion. Groupon, on the other hand, despite its steady growth had an operating loss of $214 million during the 9 month period leading up to its offering. Zynga's performance has been fairly flat, as it reported only $12 million of earnings on sales of almost $200 million. Likewise, Pandora's