Ever wondered how one of the world's famous addictive social networking sites - FACEBOOK makes revenue/money. Mind boggling huh? Facebook was originated in February 2004. This 'phenomenon' was founded by an individual known as Mark Zuckerberg who is currently a billionaire. "How is he a billionaire?" you might ask. Have you ever noticed the advertisements or Facebook ads situated at the side of the page? Sure you do. Why? - Because they grasp our attention. Teenage girls seeing an ad for the latest in stiletto shoes or boys finding and easy and simple way to download their favourite music quickly and without any thought, your eyes are drawn to pleasure.
Companies all over the world pay Facebook an enormous fee to publish their ads which are placed on your Facebook page based on the interests that you list in your profile. For example, if you list Nicki Minaj as one of your favorite artists then you may see an advertisement to purchase Nicki Minaj tickets. Facebook ads have presently made 250 to 300 million dollars. Quite clever huh? But this is not the limit to their money making practices. Facebook gifts in 2009 have made $30 - $50 million dollars; to some people wishing their friends and loved ones Happy Birthday or a Merry Christmas is just not enough, writing does not suffice. In this instance individuals, abuse the, "send a gift tab", sending virtual gifts which are paid for online.
Most of the money is attained by Facebook, but if a gift were to be created by an outsider, little money is awarded to the individual and the majority goes to the social networking site. Games equal fun. Farmville, Family Feud and The Price is Right are just a few of the most popular games played on Facebook. Individuals become addicted to these games, therefore they pay to get more and more episodes of the game of their interest. The company therefore rakes in a lot of cash by this, up to approximately one to three million dollars a year. Whether it is Facebook ads, virtual gifts or games, Facebook is currently estimated to generate $1.1 billion this year. Mark Zuckerberg is the youngest billionaire in the world. What is the lesson to be learnt? If at first you don't succeed just remember you can do it and follow your dreams.
Sarah Maharaj
Diego Martin Central Secondary
