Feb
20

Happy Birthday, Facebook!

Vienna on Feb 20, 2014
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With this month marking the 10th anniversary of Facebook, we could not help but reminisce about how far the biggest of all social networks has come and wonder where it is headed in the future. The story about Facebook and its founder Mark Zuckerberg’s great journey and rise to fame have even made for great movie material. But will the success story continue?

Do you remember when you first heard about and signed up for Facebook? All of a sudden, it became so much easier to stay in touch with close (or loose) friends, see what they are up to, or even reconnect with long-lost high school buddies and distant relatives. To many (mostly Generation Y) members the social network almost became somewhat of an addiction. Gaining more and more friends and exchanging instant feedback on photos and status updates seemed to be a convenient, welcomed way to give many youths and adults attention that they were craving. Now, years of data abuse scandals, (grand)parents and bosses flocking to Facebook, and thoughts of “I cannot take another post about what you had for lunch” later, the common sentiment seems to be that many users are losing interest.

However, does this have to mean Facebook’s doomsday is just around the corner? Not quite yet, if you ask us. After all, this is a business that has been through quite a rollercoaster ride since it has been founded. However, so far, whether it be through adding new features, the acquisition of other social apps on the rise (i.e. Instagram and, most recently, WhatsApp) or going public, Facebook hasn’t failed to constantly adapt and come up with new ideas and innovations to help it grow further. There is no doubt that Facebook has been instrumental in establishing social media as the staple platform that it is in today’s media landscape. Mark Zuckerberg and his team know the social networking business like no one else, and while Facebook may not look anything like it does now, chances are it will still be around for a while to come. Either way, it will continue to be an exciting journey to watch.