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FACEBOOK- A BRIEF

Prepared By : Abhinav Bhatnagar

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INTRODUCTION  Facebook is a social network service and website

launched in February 2004 that is operated and privately owned by Facebook, Incorporation.  Facebook was founded by Mark Zuckerberg with

his college roommates and fellow computer science students Eduardo Saverin, Dustin Moskovitz and Chris Hughes.

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CONT…  website's hip was initially limited by the

founders to Harvard students, but was expanded to other colleges in the Boston area, the Ivy League, and Stanford University.  It gradually added for students at various

other universities before opening to high school students, and, finally, to anyone aged 13 and over.

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REAL STORY BEHIND FACEBOOK  “I need to think of something to make to take my

mind off her…” Statement by Mark Zuckerberg.

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CONT…  Mark came up with the idea of comparing

classmates to farm animals and letting people vote on who was more attractive.  According to The Harvard Crimson, the site was

comparable to Hot or Not, and "used photos compiled from the online facebooks of nine houses, placing two next to each other at a time and asking s to choose the 'hotter' person".

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CONT…  Ultimately, Facemash was created with no

animals involved , on October 28, 2003.

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CONT…  Facemash attracted 450 visitors and 22,000

photo-views in its first four hours online.  Zuckerberg began writing code for a new website

in January 2004.  On February 4, 2004, Zuckerberg launched

"Thefacebook", originally located at thefacebook.com.

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CONT…  Six days after the site launched, three Harvard

seniors, Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra, accused Zuckerberg of intentionally misleading them into believing he would help them build a social network called HarvardConnection.com, while he was instead using their ideas to build a competing product.

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CONT…  Eduardo Saverin (business aspects), Dustin

Moskovitz (programmer), Andrew McCollum (graphic artist), and Chris Hughes soon ed Zuckerberg to help promote the website.  In March 2004, Facebook expanded to Stanford,

Columbia,Yale and gradually Canada and US.

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CONT…  Facebook incorporated in the summer of 2004,

and the entrepreneur Sean Parker, who had been informally advising Zuckerberg, became the company's president.

 In June 2004, Facebook moved its base of

operations to Palo Alto, California.

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CONT…  Facebook received its first investment of

$500,000 later that month from PayPal cofounder Peter Thiel.

 The company dropped The from its name after

purchasing the domain name facebook.com in 2005 for $200,000.

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CONT…  Facebook launched a high school version in

September 2005, which Zuckerberg called the next logical step.  Facebook later expanded hip eligibility to employees of several companies, including Apple Inc. and Microsoft.  Facebook was then opened on September 26, 2006, to everyone of ages 13 and older with a valid email address.

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BUSINESS ENVIRONMENT  Business environment of facebook is totally

depends upon these factors in my opinion:  Socio-cultural  Technological  Demographic

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CONCLUSION  At last I would to say that Facebook is just by

chance creation by Mark zuckerberg and at that time there is no research methodology adopted.

 But today it is a large success by making a

revenue of $2bn.

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