As the Internet evolves, and becomes more consolidated, there are still a few titans left standing from the old days of the Internet. These gems are few and far in between, and include the likes of Google and Amazon. Facebook is among these titans of the Internet, and has withstood the test of time and consumer interest, becoming the biggest social network that man has ever envisioned in the process.
It was thought that Facebook would decline in popularity just like MySpace, but a couple of clever decisions helped keep its audience engaged and resulted in Facebook seeing user growth.
Now Facebook has over 1.55 billion users, and from these, over 1 billion use it every day. And roughly half of these billion users are accessing it from mobile devices. These are all very impressive metrics, and even more impressive is the fact that videos on Facebook have seen a 800% growth in video views and engagement. In fact, over the past seven months alone its videos have seen a 100% growth in views and engagement, which is simply unprecedented.
All this growth is resulting in a collective ‘ka-ching’ in the minds of investors, which is why Facebook is now being valued at $306 billion, putting it right up there among Apple, Google and Amazon, aka the titans of the technology industry.
And this is only the social network. Facebook is now a multifaceted company with several high-profile acquisitions under its belt. It has Whatsapp with a fast growing userbase. It has Instagram which has high retention and engagement rates. It also has Oculus as its gateway for future technologies. All in all, Facebook seems unstoppable, and with its new initiatives to provide free Internet in rural areas, its userbase would only see growth from here on out.
What do you think? Is Facebook the greatest social experiment in history?