BY: Toren Miller
Many people recognize
Mark Zuckerberg for his fervent effort to innovate social networking, his
success at it, then leave it at that. What people fail to realize is the simple
business genius of Zuckerberg. The innovations we take for granted as colloquial
web surfers and Facebook users are marks of pure genius! Think about it, every
social network including many non-social networks are linked to Facebook. You
can sign in to your twitter, instragram, collegeboard, online clothing accounts,
just about every website that has a login is linked to Facebook.
What does this all
mean? If it is not already clear, Zuckerberg is sticking his hand in every
profitable pot across the globe as each company looks to be generationally
relevant. Facebook has over a billion users including a myriad of companies who
provide promotions through Facebook. He is literally profiting without any
direct contact with any other entity! How genius is that? Between signing in to
your email through Facebook to users all over the globe, Zuckerberg wins the
entrepreneur of the decade in my book.
Mark Zuckerberg is
also cultivating an affluent business through acquisitions. In his words,
"We have not once bought a company for the company. We buy companies to
get excellent people... In order to have a really entrepreneurial culture one of
the key things is to make sure we're recruiting the best people. One of the ways
to do this is to focus on acquiring great companies with great founders.” Thus
Zuckerberg buys out potential competition and allots for exponential expansion.
One of the most recent major acquisitions was Instagram on April 9th,
2012. The application has 90 millions users who log on at least once a day
through Facebook. Zuckerberg is literally behind the scenes witnessing his
pockets flourish due to his savvy business techniques.
In accord with the
previous statement of companies who use Facebook reveal promotions, Facebook has
21,655 companies on it around the globe. What this does is allow these companies
to niche market when a user “Likes” their page. This gives the companies the
opportunity to provide ads to every user who likes their page all through
Zuckerberg releasing and selling the emails of the users. Imagine having 5,000
emails of people who like Starbucks, now Starbucks is willing to purchase said
information with the purpose of providing these people with promotions that may
potentially lead to higher sales. Now multiply that 5,000 by 100. Imagine the
amount a company such as Starbucks is willing to pay for the information to gain
access to those 500,000 emails. Zuckerberg is the largest third party
advertising agent in the world through his systematic approach to gaining access
to people’s emails and thus access to their personal preferences. Companies such
as ESPN, Coca-Cola, Oreo, and Disney, put in a significant amount of work and
effort into becoming one of the most popular companies on Facebook because they
know popularity breeds consumption.
Mark Zuckerberg’s
initial, internet changing invention of Facebook made him the youngest
billionaire ever but his illustrious business savvy is cultivating him into one
of the most powerful men in the world. I ask that we all take notes of how
social media can make us all at least millionaires.
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