Vito Glazers

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History:

Facebook is the world’s largest social network with over a billion users worldwide. It was founded by Mark Zuckerberg at Harvard University around 2004.  Facebook is estimated to be valued at over 100 Billion Dollars as of 2013.

Purpose:

The purpose of Facebook is to reconnect, or stay connected, with pretty much every person you have ever met. You can make a personal profile or a fan page for commercial brands, and upload status messages, photos, videos, notes, and share links. You can also tag friends in posts and comments, and find friends through networks and groups.

Pros:

1) Pretty much every person in the civilized world is on it

2) Very feature rich, can host unlimited photos and videos

3) Has great tools for advertising and business. A business can almost eliminate the need for a website and just use their facebook fan page as their business home page.

Cons:

1) Being connected to so many people you have met isn’t always a good thing. Sometimes a little separation is nice.

2) Privacy and content ownership is a recurring issue for Facebook. Their policies are long winded and it is difficult to really determine if you own the content that you upload or if they are claiming ownership and using your content wherever and however they please.

3) For normal users, there is a lot of ads. There are also a few cons for business.  First, there is a lot of competition since many advertisers are competing. Also, even if you build up a big audience on Facebook, they may throttle how much of your audience actually sees your posts, and may even charge you extra to show your content to your own audience.

Social Network Review:

Facebook is the dominating force in social networking.  It’s a great tool for the average person to stay in touch with their friends, family and colleagues.  It is an equally great tool for businesses to connect and advertise to their audiences, although charging brands to share their content with their audiences even after that audience has been built will undoubtedly drive some advertisers to seek other channels.

 

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