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Mark Elliot Zuckerberg Is An American: Technology Entrepreneur Facebook Chief Executive Officer

Mark Elliot Zuckerberg is an American technology entrepreneur and philanthropist best known for co-founding Facebook in 2004 from his Harvard dorm room. Facebook originally started as a "Harvard thing" but expanded to other schools, attracting users by allowing friends to communicate online. Though Facebook's monetization was initially unclear, it grew a large audience and earned most of its revenues through contextual advertising based on users' profiles and activities. Mark Zuckerberg declined offers to sell Facebook for as much as $900 million and continued growing the platform, which had over $7 billion in annual revenues by 2013.

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174 views1 page

Mark Elliot Zuckerberg Is An American: Technology Entrepreneur Facebook Chief Executive Officer

Mark Elliot Zuckerberg is an American technology entrepreneur and philanthropist best known for co-founding Facebook in 2004 from his Harvard dorm room. Facebook originally started as a "Harvard thing" but expanded to other schools, attracting users by allowing friends to communicate online. Though Facebook's monetization was initially unclear, it grew a large audience and earned most of its revenues through contextual advertising based on users' profiles and activities. Mark Zuckerberg declined offers to sell Facebook for as much as $900 million and continued growing the platform, which had over $7 billion in annual revenues by 2013.

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okkkay
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We take content rights seriously. If you suspect this is your content, claim it here.
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Mark Elliot Zuckerberg is an American technology entrepreneur and philanthropist.

He is
known for co-founding and leading Facebook as its chairman and chief executive officer. On
February 4, 2004, Zuckerberg launched Facebook from his Harvard dormitory room. Once at
college, Zuckerberg's Facebook started off as just a "Harvard thing" until Zuckerberg decided to
spread it to other schools, enlisting the help of roommate Dustin Moskovitz. They began
with Columbia University, New York University, Stanford, Dartmouth, Cornell, University of
Pennsylvania, Brown, and Yale. The main thing that immediately attracted users in Facebook is
that friends who meet in real life now could communicate with each other online. The Facebook
audience grew rapidly, but the monetization of the project still remained unclear. Everyone
expected that the main instrument should be context advertising. The fact is that every
Facebook user fills sufficiently detailed profile, which can be used to show relevant
advertisements. Obviously, that would open up enough options to advertisers, who may be of
interest to their audience. But Facebook continued to grow its audience. When they got over 50
million users, large companies began to offer Zuckerberg to sell them the project. So, one time
even Yahoo! offered $900 million dollars for Facebook. Impressive sum, but it absolutely did not
satisfy Mark. Facebook biography and Mark Zuckerberg success story is quite intriguing. In
2013, the turnover of Facebook, Inc. reached $7.87 billion and net income – $1.5 billion. The
growth rates are also impressive: three years turnover has increased six-fold. The
basic earnings of Facebook come from contextual ads on the pages of the social network.
Growing number of users and the time they spend on the site is converted into advertising
revenues. 85% percent of cash-flow that went through the company last year was earned
through contextual advertising. In January 2010, TIME magazine named Facebook founder,
CEO and 26-year old billionaire Mark Zuckerberg the Person of the Year 2010. According to
TIME, in the past year, no one else had such great impact on the world than the current winner.
Mark’s popularity is so high that in 2010 David Fincher shot a movie ‘The Social Network’ in
which the main role of the Facebook founder was brilliantly played by Jesse Eisenberg.
Previously, TIME’s ‘persons of the year’ became the United States presidents Bill Clinton
and Barack Obama. In 2010, Forbes magazine admitted Mark Zuckerberg as the youngest
billionaire in its list to the state of $4 billion.

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