Facebook, the social network born out of a Harvard dorm room in 2004, celebrates its 10th birthday today.
The brain child of Mark Zuckerberg now has 1.2 million monthly users and revenues reaching £1.5 billion.
However, despite its success, the social network has faced increasing criticism in recent months, with media outlets questioning its sustainability. In a blog post Jane Wakefield, BBC technology reporter, stated: ‘The candles on Facebook’s 10th birthday cake will barely have been blown out before someone somewhere starts speculating on whether it will ever make 11.’
Despite a new focus on mobile, apps and image features, a recent report in iStrategyLabs revealed Facebook lost more than 3 million users in the age group of 13 and 17 between January 2011 and January 2014.
The relevance of Facebook in B2B marketing has continued to be a debate despite the company extending its advertising features.
Rupert Staines, European MD of digital advertising company RadiumOne, explains: “The biggest challenge is still to come. Attracting over a billion users is a phenomenal achievement, but it is going to have to be incredibly canny with its advertising strategy moving forward. Mobile is clearly a major focus and its very strong financial results from last week have a great deal to with its success here. Striking the balance between creating enough advertising space, so that brands are attracted to invest and not annoying users with too many ads is undoubtedly tricky.”
Facebook has released personalised videos for each user as part of the celebration. To view yours visit: www.facebook.com/lookback
