Social Networking Sites Began in 1997 Term Paper

Pages: 1 (493 words)  ·  Bibliography Sources: 0  ·  File: .docx  ·  Topic: Education - Computers

¶ … Social networking sites began in 1997 with a now-defunct site called SixDegrees.com. As of 2007, two sites dominated the industry. Myspace, owned by News Corp, is the industry leader with around $800m in revenue. Facebook was #2, with over $400m in revenue. A host of other competitors exist, but do not at present hold significant market share. Myspace has a similar array of features but is often seen as less user friendly.

Facebook was started in 2004, and by the end of the year had registered 200,000 users. Growth has continued to the point where in 2007 Facebook held a market share of 16% and over 70 million users, making it the 6th most-trafficked website. Founder Mark Zuckerberg was offered $1billion by Yahoo but turned it down.

Facebook's future looks bright at present. It is expected to break the 125 million user mark in 2008 and it is expected to be the top social networking site in 13 different countries. The company expects to launch a unified payment system that will bring e-commerce to the site.Get full Download Microsoft Word File access
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Term Paper on Social Networking Sites Began in 1997 With Assignment

Facebook's initial promotion strategy was word-of-mouth. The viral nature of social networking sites lends itself to this type of promotion. Facebook sees a future for itself not just as a social networking tool, but a professional one as well. They began this thrust by creating corporate networks. Revenue generation comes from Microsoft banner ads, and Facebook tailors its advertising to the user based on their network. Facebook's value… [END OF PREVIEW] . . . READ MORE

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