Tag Archives: Social Networks

Video: Social Media Overview

Social Media = Blogs, Podcasts, Video and Photo Sharing, Wikis

This video focuses on basics of social media: new technology that makes everyone a producer and tools that give everyone a chance to have a say. Courtesy of “CommonCraft.com”.

How social media affects business and learning:

  • Companies can learn directly from customers.
  • Free customer reviews were more valuable than costly advertising.
  • The way is created for customers to find exactly what they wanted.
  • The combination of new technology and new ways to work with customers creates a sense of community. 
  • Everyone has a chance to contribute, thanks to free tools like blogs, podcasts and video sharing.
  • Today, we now have new ways for real people to play a role in providing feedback, organization and promotion.
  • Whether you’re a big, established company. An Individual with loyal fans…Or simply someone with ideas and opinions…Social media means new opportunities to create and communicate with people that care.

 

 
 

Comments Off

Filed under Social Media, Social Networks, Videos

friendfeed

founded by these former Google employees:  Bret Taylor, Jim Norris, Paul Buchheit, Sanjeev Singh in Mountainview CA

Friendfeed is a one stop shop for all your social networking updates and news items. Also refered to as a social network aggregator.

FriendFeed is a service which, instead of layering a meta-network on top of all your other social networks, will create a news feed incorporating them all much like the facebook news feed. It’s an idea that isn’t too difficult or bothersome for social network users to adopt.

Users tell the feed which networks they belong to (Facebook, Digg etc) and FriendFeed personalizes your data feed with info from each of the sites.

 

Comments Off

Filed under Aggregators, Social Networks

Facebook

 

 founded Feb 2004 by Mark Zuckerberg – Palo Alto, CA

This is an extremely interesting article from http://www.crunchbase.com/company/facebook

 On February 4th, 2004 Mark Zuckerberg launched The Facebook, a social network that was at the time exclusively for Harvard students. It was a huge hit, in 2 weeks, half of the student body at Harvard had signed up. Other schools in the Boston area began demanding a Facebook network. Zuckerberg immediately recruited his friends Dustin Moskowitz and Chris Hughes to help build Facebook, and within four months, Facebook added 30 more college networks.

The original idea for the term Facebook came from Zuckerberg’s high school (Phillips Exeter Academy). The Exeter Face Book was passed around to every student as a way for students to get to know their classmates for the following year. It was a physical paper book until Zuckerberg brought it to the internet.

With this success, Zuckerberg, Moskowitz and Hughes moved out to Palo Alto for the summer and rented a sublet. A few weeks later, Zuckerberg ran into the former cofounder of Napster, Sean Parker. Parker soon moved in to Zuckerberg’s apartment and they began working together. Parker provided the introduction to their first investor, Peter Thiel, cofounder of PayPal and managing partner of the Founders Fund. Thiel invested $500,000 into Facebook.

With millions more users, Friendster attempted to acquire the company for $10 million in mid 2004. Facebook turned down the offer and subsequently received $12.7 million in funding from Accel Partners, at a valuation of around $100 million. Facebook continued to grow, opening up to high school students in September 2005 and adding an immensely popular photo sharing feature the next month. The next spring, Facebook received $25 million in funding from Greylock Partners and Meritech Capital, as well as previous investors Accel Partners and Peter Thiel. The pre-money valuation for this deal was about $525 million. Facebook subsequently opened up to work networks, eventually amassing over 20,000 work networks. Finally in September 2006, Facebook opened to anyone with an email address.

In the summer of 2006, Yahoo attempted to acquire the company for $1 billion dollars. Reports actually indicated that Zuckerberg made a verbal agreement to sell Facebook to Yahoo!. A few days later when Yahoo!’s stock price took a dive, the offer was lowered to $800 million and Zuckerberg walked away from the deal. Yahoo! later offered $1 billion again, this time Zuckerberg turned Yahoo! down and earned instant notoriety as the “kid” who turned down a billion. This was not the first time Zuckerberg turned down an acquisition offer; Viacom had previously unsuccessfully attempted to acquire the company for $750 million in March, 2006.

One sour note for Facebook has been the controversy with social network Uconnect. The founders of Uconnect, former classmates of Mark Zuckerberg at Harvard, allege that Zuckerberg stole their original source code for Facebook. The ordeal has gone to court, but is still unresolved.

Notwithstanding this lingering controversy, Facebook’s growth in the fall of 2007 was staggering. Over 1 million new users signed up every week, 200,000 daily, totaling over 50 million active users. Facebook received 40 billion page views a month. Long gone were the days of Facebook as a social network for college students. 11% of users are over the age of 35, and the fastest growing demographic is users over 30. Facebook has also seen huge growth internationally; 15% of the user base is in Canada. Facebook users’ passion, or addiction, to the site is unparalleled: more than half use the product every single day and users spend an average of 19 minutes a day on Facebook. Facebook is 6th most trafficked site in the US and top photo sharing site with 4.1 billion photos uploaded.

Based on these types of numbers, Microsoft invested $240 million into Facebook for 1.6 percent of the company in October 2007. This meant a valuation of over $15 billion, making Facebook the 5th most valuable US Internet company, yet with only $150 million in annual revenue. Many explained Microsoft’s decision as being solely driven by the desire to outbid Google.

Facebook’s competitors include MySpace, Bebo, Friendster, LinkedIn, Tagged, Hi5, Piczo, and Open Social.

 

Comments Off

Filed under Social Networks

Digg

 Website: http://digg.com - founded by Kevin Rose in Nov 2004, San Francisco, CA - see also the podcast http://diggnation.com

Digg is a place for people to discover and share content across the web, from the biggest online destinations to the most obscure blog. Digg surfaces the best stuff as voted on by our users.

Every article submitted to Digg has a count of how many Diggs the story has received. You need to be signed-in to Digg a story. For every registered user that clicks “Digg it” the count goes up one. If a story reaches the tipping point, then it gets promoted to the homepage.

Comments Off

Filed under Social News