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Facebook: Social Networks
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Given the situation other social networks on the web are facing, Facebook is in a good position financially. While it hasn’t managed to get acquired like its rival MySpace (despite some rumors about an $800m deal with Viacom), it’s been quite lucky in most aspects. For its initial funding, it received $500,000 from Peter Theil, co-founder of PayPal. A few months later, it was ... able to get $13 million from Accel Partners, who are also investors in 15 other Web 2.0 startups, and $25 million from Greylock Partners, making their overall venture equal to approximately $40 million.
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One sour note for Facebook has been the controversy with social network Uconnect. The founders of Uconnect, former classmates of Mark Zuckerberg at Harvard, allege that Zuckerberg stole their original source code for Facebook. The ordeal has gone to court, but is still unresolved.
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Once a social networking haven for college students, Facebook's decision to open registration has helped attract new visitors from outside the 18-24 year old age segment. In fact, the 38-percent increase among 18-24 year olds was the lowest rate of growth of the age segments represented in the study. The most dramatic growth occurred among 25-34 year olds (up 181 percent), while 12-17 year olds grew 149 percent and those age 35 and older grew 98 percent.
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Facebook, the social network site that has enjoyed spectacular international growth in the past year, despite being published only in English until recently, said on Monday it was offering a German version. via Reuters UK
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Scoble goes on to insist that Facebook is not only in a different league than Geocities, but that it easily trumps modern competitors like MySpace, Bebo, and… Basically, he's saying Facebook is the only relevant name in social networking. That's debatable, but clearly, when it comes to Facebook, Microsoft's playing hard-to-get with its pocketbook.
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Facebook is one of the most popular social networking sites in the world. It is the sixth most visited website in the USA and the leading website for photos, with about 2.3 million photos uploaded a day, ahead of such public websites as Flickr (comScore’s Media Matrix).
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