Facebook is the world’s most popular social networking website right now. Mark Zuckerberg started this as a project in his dorm room and has now become a billionaire. But I am pretty sure that all of you would have watched Social Network by now. So, the company went public some time back and hit huge heights. The social network’s stocks were priced really high. But unfortunately, the company’s stock fell to an all time low of $17.55 in September. That was a disaster and a lot of stakeholders were a bit terrified.
The thing is that people thought Facebook is going to be one of the greatest company’s the world has ever seen. It is true that it is the best social network that the world has seen, but it is just another internet company which can come down any day. I have absolutely nothing against Facebook. But I think that someday in the future, another awesome social network would come up and destroy Facebook, or at least push it to second place.
We thought Friendster was the best social network ever when it came along, then it was MySpace when it went viral. And then Facebook came along. After this, being on Friendster or MySpace started to be considered as an insult. My argument is only that this could happen to Facebook at any time.
Recent reports already show that the teenagers are ready to move on, they are ready to reduce their use of Facebook. And reports also show that the on site time that Facebook had a while back is no more, it has decreased. People are no more as addicted to Facebook as they were in the beginning. Anyway, when the stocks went low, Mark Zuckerberg, the company’s CEO, promised that he would not be selling any of his shares for at least a year.
The CEO seems to be holding on to that promise as he has not stopped buying shares ever since he made that promise. As a result, his share has increased from about 500 million to a total of 632.65 million shares. And that means he now owns one third of the company.
Source: Boy Genius Report