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Transcript of business studies
MARK ZUCKERBERG ! lets start with a short trailer ! interesting huh ?
PUSH START ! Victor Gao first recommended Mark to Cameron, Tyler, and Divya. Sold on Mark, the Harvard Connection trio reached out to him. Mark agreed to meet. - Cameron, Tyler, and Divya brought up their idea for Harvard Connection, and described their plans
A) build the site for Harvard students only, by requiring new users to register with Harvard.edu email addresses,
B) expand Harvard Connection beyond Harvard to schools around the country. Mark reportedly showed enthusiastic interest in the project. - In the fall of 2003, Harvard seniors Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra were on the lookout for a web developer
- a social network for Harvard students and alumni. The site was to be called HarvardConnections.com.
- The three had been paying Victor Gao, to do coding for the site, but at the beginning of the fall term Victor begged off the project. Victor suggested his own replacement: Mark Zuckerberg, a Harvard sophomore from Dobbs Ferry, New York.
- Back then, Mark was known at Harvard for building facemash, a "Hot Or Not" clone for Harvard. It had already made Mark a bit of a celebrity on campus. - At first Mark got in trouble for creating it.
- The way the site worked was that it pulled photos of Harvard students off of Harvard's Web sites.
-It rearranged these photos so that when people visited Facemash.com they would see pictures of two Harvard students and be asked to vote on which was more attractive. The site also maintained a list of Harvard students, ranked by attractiveness. Here is the famous scene from The Social Network, where Eduardo Saverin gives Mark Zuckerberg the Algorithm he needs to code Facemash. Eduardo then writes the code on the window of the Havard dorm room. They first met in an early evening in late November in the dining hall of Harvard College's Kirkland House. Later that night, Mark wrote an email to the Winklevoss brothers and Divya: "I read over all the stuff you sent and it seems like it shouldn't take too long to implement, so we can talk about that after I get all the basic functionality up tomorrow night."
December 4: "Sorry I was unreachable tonight. I just got about three of your missed calls. I was working on a problem set.
Finally, on January 8:
Sorry it's taken a while for me to get back to you. I'm completely swamped with work this week. I have three programming projects and a final paper due by Monday, as well as a couple of problem sets due Friday. I'll be available to discuss the site again starting Tuesday. Our investigation suggests the latter.
As a part of the lawsuit against Facebook and Mark Zuckerberg, the above emails from Mark have been public for years. What has never been revealed publicly is what Mark was telling his friends, parents, and closest confidants at the same time. - To picture Eduardo, what you need to know is that he was the kid at Harvard who would wear a suit to class.
- Saverin met fellow Harvard undergraduate, sophomore Mark Zuckerberg. Noting the lack of a dedicated social networking website for Harvard students, the two worked together to launch The Facebook in 2004.
- As a co-founder, Saverin held the role of chief financial officer and business manager In January, however, Mark told a friend that "Eduardo is paying for my servers." Eventually, Eduardo would agree to invest $15,000 in a company that would, in April 2004, be formed as Facebook LLC. For his money, Eduardo would get 30% of the company. Check this site out: www.harvardconnection.com and then go to harvardconnection.com/datehome.php.
Someone is already trying to make a dating site. But they made a mistake haha. They asked me to make it for them. So I'm like delaying it so it won't be ready until after the facebook thing comes out. This IM suggests that, within a week of meeting with the Winklevosses for the first time, Mark had already decided to start his own, similar project--"the facebook thing." It also suggests that he had developed a strategy for dealing with his would-be competition. But in the second meeting, Mark still appeared to be actively engaged in developing Harvard Connection. But he never showed the HarvardConnection folks any site prototypes or code. And they didn't insist on seeing them. -However in January 2004, Mark met with the Winklevoss brothers and Divya Narendra for what would be the last time. The meeting was on January 14, 2004, and it was held at the same place
-Mark expressed doubts about the viability of HarvardConnection.com. He said he was very busy with personal projects and school work and that he wouldn't be able to work on the site for a while. He blamed others for the site's delays. -Three days earlier, on January 11, 2004, Mark had registered the domain THEFACEBOOK.COM.
-On February 4, he opened the site to Harvard students.
-On February 10, Cameron Winklevoss sent Mark a letter accusing him of breaching their agreement and stealing their idea. Finance part of FACEBOOK Facebook's former headquarters in downtown Palo Alto, California Initial funding
-Facebook was initially incorporated as a Florida LLC. For the first few months after its launch in February 2004.
-The costs for the website operations for thefacebook.com were paid for by Mark Zuckerberg and Eduardo Saverin, who had both taken equity stakes in the company. The website also ran a few advertisements to meet its operating costs. First angel investment (Series A) - In the summer of 2004, Peter Thiel made a $500,000 angel investment in the social network Facebook for 10.2% of the company and joined Facebook's board. This was the first outside investment in Facebook. -Former Napster and Plaxo employee Sean Parker, who at the time had assumed the title of "President" of Facebook, was seeking investors for Facebook. -
-Reid Hoffman, the CEO of work-based social network LinkedIn. Hoffman liked Facebook but declined to be the lead investor because of the potential for conflict of interest with his duties as LinkedIn CEO.
- He redirected Parker to Peter Thiel. Thiel met Parker and Mark Zuckerberg, the (Harvard college student who had founded Facebook and controlled it) -Thiel and Zuckerberg got along well and Thiel agreed to lead Facebook's seed round with $500,000 for 10.2% of the company. Accel investment (Series B) - In April 2005, Accel Partners agreed to make a $12.7 million venture capital investment in a deal that valued Facebook at about $98 million post-valuation.
-The deal was finalized in May 2005. As part of the deal, Jim Breyer, a partner at Accel, joined Facebook's board.
- And the board was expanded to five seats, with Zuckerberg, Thiel, and Breyer in three of the seats, and the other two seats currently being empty but with Zuckerberg free to nominate anybody to those seats In this scene from The Social Network Sean Parker and Mark Zuckerberg meet with PayPal co-founder Peter Theil who then invests $500000 in Facebook. Series C
- In April 2006, Facebook closed its Series C funding round. This included $27.5 million from a number of venture capitalists, including Greylock Partners and Meritech Capital.
- Additional investments from Peter Thiel and Accel Partners. The valuation for this round was about $500 million.
- A leaked cash flow statement showed that during the 2005 fiscal year, Facebook had a net loss of $3.63 million. Sales negotiations - With the sale of social networking website MySpace to News Corp on July 19, 2005, rumors surfaced about the possible sale of Facebook to a larger media company
- On March 28, 2006, BusinessWeek reported that a potential acquisition of Facebook was under negotiation.
- Facebook reportedly declined an offer of $750 million from an unknown bidder, and it was rumored the asking price rose as high as $2 billion. - Thiel, by then a board member of Facebook, indicated that Facebook's internal valuation was around $8 billion based on their projected revenues of $1 billion by 2015, comparable to Viacom's MTV brand, a company with a shared target demographic audience.
- On July 17, 2007, Zuckerberg said that selling Facebook was unlikely and that they're not looking to IPO (initial public offering) anytime soon . In September 2007, Microsoft approached Facebook, proposing an investment in return for a 5% stake in the company, offering an estimated $300–500 million.That month, other companies, including Google, expressed interest in buying a portion of Facebook. Microsoft investment (Series D) -On October 24, 2007, Microsoft announced that it had purchased a 1.6% share of Facebook for $240 million, giving Facebook a total implied value of around $15 billion
- Microsoft bought preferred stock that carried special rights, such as "liquidation preferences"
- In November 2007, Hong Kong billionaire Li Ka-shing invested $60 million in Facebook IPO ( Initial Public Offering - The preliminary prospectus stated that the company was seeking to raise $5 billion.
-After the IPO, Zuckerberg will retain a 22% ownership share in Facebook and will own 57% of the voting shares.
- Underwriters valued the shares at $38 each, pricing the company at $104 billion, the largest valuation to date for a newly public company.
- On May 16, one day before the IPO, Facebook announced that it would sell 25% more shares than originally planned due to high demand In December, 2003, a week after Mark's first meeting with the HarvardConnection team, when he was telling the Winklevosses that he was too busy with schoolwork to work on or even think about HarvardConnection.com, Mark was telling Eduardo a different story. On December 7, 2003, we believe Mark sent Eduardo the following IM: - The IPO raised $16 billion, making it the third largest in U.S. history (just ahead of AT&T Wireless and behind only General Motors and Visa Inc.).
-The stock price left the company with a higher market capitalization than all but a few U.S. corporations – surpassing heavyweights such as Amazon.com, McDonald's, Disney, and Kraft Foods – and made Zuckerberg's stock worth $19 billion. - - Shares were valued at $38.23, only $0.23 above the IPO price and down $3.82 from the opening bell value.
- On 25 May 2012, the stock ended its first full week of trading at $31.91, a 16.5% decline. Facebook company buildings . Dominic Rushe in New York The exterior of the Facebook data center in Prineville, Oregon. - facebook is classified under medium sized company
- Based on the research i did , facebook only has 1000+ employees. - However , facebook is only used in certain country . the following is the facebook's adoption worldwide - I think it's fascinating to think about the relative sizes and market penetrations of various countries. In case you were wondering, the countries with the highest percentage of people using Facebook are Hong Kong, Canada, the UK and then the United States. Who's most into Facebook in South America? Chileans, at 41%.
- Not all countries are included. China, for example, doesn't appear on the map. The giant social network hasn't gained a whole lot of traction there, due to language, culture, marketing effort, local competition and probably most of all - government suppression of access to the site.