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Chapter 8 - ThisisFacebook:,chapter8fromthebook...

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Previous Chapter Next Chapter This is “Facebook: Building a Business from the Social Graph”, chapter 8 from the book Getting the Most Out of Information Systems (v. 1.4). For details on it (including licensing), click here . For more information on the source of this book, or why it is available for free, please see the project's home page . You can browse or download additional books there. To download a .zip file containing this book to use offline, simply click here . Has this book helped you? Consider passing it on: Help Creative Commons Creative Commons supports free culture from music to education. Their licenses helped make this book available to you. Help a Public School DonorsChoose.org helps people like you help teachers fund their classroom projects, from art supplies to books to calculators. Table of Contents Chapter 8 Facebook: Building a Business from the Social Graph 8.1 Introduction LEARNING OBJECTIVES 1. Be familiar with Facebook’s origins and rapid rise. 2. Understand how Facebook’s rapid rise has impacted the firm’s ability to raise venture funding and its founder’s ability to maintain a controlling interest in the firm. It’s hard not to be awed by what Mark Zuckerberg has created. An effort launched from his college dorm is now a species-level phenomenon.L. Grossman, “Person of the Year: Mark Zuckerberg,”
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Time , December 15, 2010. Roughly one in every eight people on the planet has a Facebook account —an amazing track record given that Facebook is technically banned in China (taking about 20 percent of the world population off the table).J. Cassidy, “Facebook: The Ultimate Dot-Com,” New Yorker , May 16, 2012. Want to connect to customers? Facebook is increasingly the place to be. The firm has ranked as the most visited site in the United StatesL. Sumagaysay, “Facebooking More Than Googling,” Good Morning Silicon Valley , December 30, 2010. and is tops in display advertising.M. Walsh, “Facebook Drives 31% of Display Ads in Q1,” MediaPost , May 4, 2011. Global growth is on a tear, with an excess of 80 percent of Facebook users outside the United States.D. Kerr, “Facebook to Inaugurate New Office in Dubai,” CNet , May 23, 2012. Facebook is solidly profitable; in 2011 the firm earned about $1 billion on some $3.7 billion in revenues. And Facebook has accomplished all that with fewer employees than Google has job openings.J. Evans, “Can Anything Stop the Facebook Juggernaut?” TechCrunch , November 25, 2010. The Rise of Facebook Facebook founder Mark Zuckerberg looked like a social media pioneer from the start. Consider this: During the weeks he spent working on Facebook as a Harvard sophomore, he didn’t have time to study for a course he was taking, “Art in the Time of Augustus,” so he built a Web site containing all of the artwork in class and pinged his classmates to contribute to a communal study guide.
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