FACEBOOK case study

11493 words 46 pages
Course

Facebook
ACCOUNTING

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ISBN-10: 1308388098

ISBN-13: 9781308388090

Contents
Facebook
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University officials, however, quickly shut down Facemash and placed Zuckerberg on a six-month academic probation for breach of security.
The following semester, Zuckerberg began work on a new website—The Facebook—that leveraged some of the features from Facemash. Designed initially to replace Harvard’s printed student directory, Zuckerberg and several fellow students officially launched The Facebook in February 2004 (the “The” was dropped shortly thereafter). Joining members were allowed to add a picture, major, and hometown to their profile and could link their profile to those of their friends.2 Half of Harvard’s undergraduates had signed up within just over a month of the launch. Realizing the site’s potential, Zuckerberg opened the platform up to other universities in the Boston area, and to Stanford, Columbia, and Yale. The only requirement to join was an e-mail address ending in .edu.3
Facebook continued to grow rapidly over the next several years. In May 2005, the website was in use at over
800 colleges and universities and received $12.7 million in investment from venture capital firm Accel Partners.4
High school and international school networks were added in the fall of 2005. By year’s end, Facebook had achieved $9 million in revenue and accumulated six million monthly active users (MAUs).5 The following year was another strong one for the

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