Customers can engage, produce, and share material and information through the social media market, which is made up of sales by entities (organizations, single traders, or partnerships). Social media platform users can exchange photos, videos, and audio clips.
According to David Kirkpatrick's book The Facebook Effect, the name Facebook was picked because every Harvard student was given one of these, which held images of their classmates and were referred to as Facebook.
Facebook was founded by Mark Zuckerberg, Andrew McCollum, Chris Hughes, Dustin Moskovitz, and Eduardo Saverin. The Facebook team last registered 71,970 full-time employees in December 2021.
Facebook, a social networking website, was established on October 28, 2003, as "FaceMash" before rebranding as "The Facebook" on February 4, 2004. It was established by Mark Zuckerberg and his Harvard University classmates. The website's designers initially limited membership to Harvard students.
Facebook raised a total of 16 funding rounds to date, as of July 12, 2022, which helped the organisation raise over $16 bn. The Facebook investors include Elevation Partners, DST Global, Horizons Ventures, Goldman Sachs Investment Partners and more.
The prominence and magnitude of Facebook have prompted condemnation from a variety of quarters. Internet privacy, its face recognition software, excessive data retention, DeepFace's addictive nature, and its function in the workplace, including access to employee accounts by employers, are all challenges.
Following the renaming of Facebook as 'Meta,' the firm will be "metaverse first," according to CEO Mark Zuckerberg, which means you won't need a Facebook account to access other Meta products in the future. “I’ve been thinking a lot about our identity as we begin this next chapter,” he said. “Facebook is an iconic social media brand, but it just doesn’t encompass everything that we do.”