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Meta-owned Facebook marked its 20th anniversary yesterday, proudly boasting over three billion active users worldwide, making up 57% of global internet users and 38% of the global population.
In 2004, amidst the transition from dial-up to broadband and the rise of color-screen mobile phones, 19-year-old Mark Zuckerberg launched “TheFacebook” with his Harvard University roommates. Initially modeled after student directories, it quickly expanded across U.S. college campuses.
By 2006, the platform, renamed “facebook.com,” opened its doors to anyone above 13 with internet access, skyrocketing from 12 million users in 2006 to 100 million by the end of 2008.
In 2012, Facebook went public, valued at $104 billion, raising $16 billion with an initial public offering (IPO) at $38 a share. Fast forward to 2021, Zuckerberg announced the rebranding of Facebook, Inc to Meta Platforms, Inc.
With 3.03 billion users, surpassing the combined populations of India, China, and Bangladesh, Facebook’s significant user base includes 385.6 million in India, 188.6 million in the U.S., and millions more in various countries.
Despite privacy concerns and user safety issues, Facebook’s largest audience group, comprising 29.9% of users, falls within the 25-34 age range. The platform has faced challenges, notably the 2018 Cambridge Analytica scandal, but continues to thrive.
Despite government scrutiny and a declining younger audience, Meta reported a staggering revenue of $40.1 billion and a profit of $14 billion for Q4 2023, surpassing analysts’ expectations.
Meta’s commitment to AI is evident, with plans to introduce its own AI chips, internally named “Artemis,” later this year, aiming to enhance Facebook, Instagram, and WhatsApp with energy-hungry generative AI products.
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