Short Essay About Facebook

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Mark Zuckerberg founded Facebook in 2004. Despite the challenges that the company has faced, Facebook has become one of the most prominent social networking platforms worldwide. Some of the problems that Facebook encountered gained momentum in the 2016 election. When it comes to revenue generation, Facebook relies on online advertisements. Approximately 99% of the revenue generated by Facebook comes from ads. From 2013 to 2017, Facebook's revenue grew from $8 billion to over $40 billion, respectively (Hoffman 3). However, at some point, Facebook is obliged to defend its revenue model. The most significant thing that makes Facebook stand out is the number of customers it has. Currently, Facebook has more than 2.7 billion active users per month. In that case, the company can advertise products and services to a more extensive base of potential customers than any other social media firm. Facebook users threaten competitors since gaining such a large number of clients takes time. Facebook has acquired various companies such as WhatsApp and Instagram to defend its revenue model from upcoming social media platforms. By purchasing such platforms, Facebook wants to make sure that it adds the number of active users, and it makes it possible for its existing customers to access other services without shifting from one company to another.
Facebook has faced allegations of loss of trust due to data breaches in the recent past. Some news has reported that hackers have accessed the firm's database and stole users' data, which is not true. When any company has grown, numerous allegations are likely to pop up to damage the company's reputation. However, Facebook has managed to overcome such challenges since it has remained true to its loyal customers. Facebook users trust the company with their personal data. Although the firm uses such data to classify users into several demographics and advertising various products, it does not disclose users' information to third-party companies. Facebook ensures that users' personal data are secure and that hackers cannot access it. That is the reason why the company has a strict authentication and authorization process, which is hard for hackers to bypass. For example, one is required to set a strong password and use his or her phone number to receive a code when logging in to avoid unauthorized personnel from accessing users' data. In the 2016 presidential election, Facebook was alleged to spread fake news that would mislead people's decisions in the choice of the candidate they elected (Hoffman 3). However, Facebook defended itself and promised to control the information that is displayed on its website. Although it is difficult to regulate the information that is posted by billions of people, Facebook has implemented software to filter information that would mislead people. Facebook has tried to remain relevant and ensures that its customers have access to all services. Facebook does not charge users when signing up, but it only benefits from advertisements that are seen by billions of people worldwide. Since the company has overcome numerous challenges, it appears that Facebook will continue to increase its number of ...