Facebook recently celebrated its 20th anniversary, marking two decades since its humble beginnings as a student data organizing program called TheFacebook. The company has since transformed into Meta Platforms, aiming to lead the way into a new era of virtual reality. With a market value exceeding 1 trillion dollars, Facebook’s journey has been awe-inspiring and continues to bring forth innovative creations.
Here is a key timeline of Facebook’s 20-year history:
February 2004 – Mark Zuckerberg, along with Dustin Moskovitz, Chris Hughes, and Eduardo Saverin, created TheFacebook, initially limited to Harvard University students before expanding to other universities and eventually to the general public.
September 2005 – The word “the” was dropped from the company’s name, becoming simply Facebook.
October 2005 – Facebook introduced the ability to upload and share photos.
September 2006 – The News Feed feature was launched, providing users with a centralized location for updates from their friends on Facebook.
October 2006 – Yahoo! made a billion-dollar offer to acquire Facebook, an offer that was ultimately rejected by the company.
February 2009 – The iconic Like button was introduced, revolutionizing how users interact with content on the platform.
October 2010 – The release of “The Social Network,” a film that depicted the founding of Facebook, brought the company’s story to the big screen.
April 2012 – Facebook acquired Instagram in a billion-dollar deal, solidifying its position in the world of social media.
May 2012 – Facebook went public, making its debut on the stock market.
October 2012 – The company proudly announced reaching the milestone of 1 billion active users.
February 2014 – Facebook acquired WhatsApp in a groundbreaking $19 billion deal.
March 2014 – Facebook entered the world of virtual reality with the acquisition of Oculus VR for a whopping $2 billion.
December 2016 – Facebook launched tools to combat fake news, addressing concerns raised during the US presidential election.
September 2017 – It was revealed that Facebook had a significant presence of Russian-backed fake accounts running ads during the US presidential election.
March 2018 – Facebook suspended the Cambridge Analytica account amid suspicion of data misuse for political gain.
April 2018 – Mark Zuckerberg testified before the US Congress, providing clarity and accountability regarding the Cambridge Analytica scandal.
October 2021 – Facebook rebranded as Meta Platforms, reflecting its vision for the Metaverse.
November 2022 – The company underwent its first major layoff, cutting approximately 11,000 employees, accounting for 13% of its workforce.
February 2023 – Facebook surpassed 2 billion active users.
March 2023 – Another round of layoffs occurred, affecting around 10,000 employees.
February 2024 – Facebook celebrated its 20th anniversary with a record-breaking market value of 1.22 trillion dollars.
TLDR: Facebook, now known as Meta Platforms, has reached a major milestone of 20 years since its inception. From its beginnings at Harvard University to becoming a global social media giant, the company has undergone numerous transformations and acquisitions. As it embraces virtual reality and the Metaverse, Facebook continues to shape the digital landscape, all while facing challenges and controversies along the way.
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