Identify the main reasons behind the phenomenal success of Facebook Essay

Identify the main reasons behind the phenomenal success of Facebook. Evaluate whether the rapid growth of the last decade can be sustained - Essay Example The site has recorded tremendous growth since its inception, and this is owed to various factors as will be discussed in this paper. The success of Facebook mainly lies on the fact that the company has endeavored to improve the products it offers so that they meet the requirements of users (Walter, 2013). At first, the company did not dwell on making profits, but with the increased dependency of people on Facebook for various purposes it started making profits from advertising and selling data that was exchanged through the site. Facebook has developed to be one of the most popular sites since its inception in 2004 and continues to gather a following to the present day. Being the largest social media site, Facebook was started as a theory in 2003 by Zuckerberg, a Harvard student and was known as Facemash.com., at that time (Phillips, 2007). The site allowed Zuckerberg’s classmates to visit the site and compare how attractive people were, but was criticized and it did not become a success then. However, in 2004 mark launched the Facebook and within a day more than 1200 Harvard students had signed up and created a profile. In no time, word spread around, and the founders of the site saw it necessarily to open the site to other universities in the states. As at august 2005, the site was bought for 200,000$ and was now referred to as faceboo.com (Phillips, 2007). High schools in the United States were now allowed to create profiles and as at September the same year, it began to be known all over the world with the united kingdom universities being the first to know about the site after the united states. As word spread all over the world about the site, the network grew beyond being only used in schools but was now accessible to anybody who wanted to join and had an email address. The fact that the site was free to join made it easy for it to grow as more features were added to it to make user friendly. It made profits through