ENTREPRENEUR REPORT
Background Information
Mark Elliot Zuckerberg is an American and at the age of 29 he is acknowledged as one of the youngest successful entrepreneurs in the world. He is the founder and the CEO of Facebook. Facebook is a social networking website that enables its users to interact while using the website as the platform. The company falls within the social networking industry. Facebook was formed on the 4th of February 2004 (Mark’s, 2013). It was created out of the initiative of Mark and his fellow students when they were still students at Harvard University. The main objective was to create an interaction platform for students within Harvard University. However, due to increased demand for this platform in America and other countries made them to make it a universal social networking platform (Mark’s, 2013).
The contribution of Mark Zuckerberg towards social networking
Mark Zuckerberg’s invention of facebook was a major boost to the social networking industry. Social networking websites had existed earlier before the inception of facebook into the industry. This included websites such as Theglobe.com that eventually ran out of business because of the inability to attract a huge user base (Mark’s, 2013). The existence of other social websites such google and MySpace did not lead to more investments towards social networking industry. The inception of facebook triggered more investments including the 1.6% share that Microsoft purchased in Facebook Company (Mark’s, 2013). This has triggered the rise of more social networking sites such as Twitter and Instangram.
Outstanding entrepreneurial quality of Mark Zuckerberg
Facebook has faced a lot of competition within the social networking industry from emerging sites such as twitter. This has led to decrease in the value of the facebook share in the New York Stock exchange Market. As an entrepreneur, he has not been in a haste to make major changes towards site. He has however allowed it maintain its brand and hence sustaining customer loyalty that has seen stability in his business.
Reference
Mark’s, C. V. (2013). MARK ZUCKERBERG-AN INTERNATIONAL YOUTH ICON?. Indira
Management Review, 45.
Last Completed Projects
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