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By Joy Chung and Shin Young Lee

By Joy Chung and Shin Young Lee. Overview of the Industry : SNS. Online service that focuses on building social relations among people. Usually consists of a representation of each user (profile), his or her social connections, and other services.

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By Joy Chung and Shin Young Lee

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  1. By Joy Chung and Shin Young Lee

  2. Overview of the Industry:SNS • Online service that focuses on building social relations among people. • Usually consists of a representation of each user (profile), his or her social connections, and other services. • Mostly web-based, and users interact over the Internet, such as e-mail and instant messaging. • Individual-centered service • Social networking sites allow users to share ideas, activities, events, and interests within their individual networks.

  3. Overview of the Traditional Environment • Early online communities focused on gathering people to interact with one other through chat rooms. Users were encouraged to share personal information and ideas through their personal webpages provided with easy-to-use publishing tools and free or inexpensive webspace. • User profiles—a central feature of social networking sites in the late 1990s—allowed users to compile lists of "friends" and search for other users. By the end of the 1990s, many sites began to develop more advanced features for users to find and manage friends.

  4. Existing SNS

  5. Leadership • The media often compare FB to MySpace, but one significant difference between them is the level of customization. • FB require users give their true identity. • FB has a numerous interacting features (Wall, Pokes, Photos, and Status). • FB allows users to upload an unlimited number of photos. (Photobucketand Flickr have limits to the number photos a user can upload)

  6. History • Founded by former-Harvard student Mark Zuckerberg. • Facemash (October 28, 2003 ) - Predecessor to Facebook. Placed two photos next to each other at a time, asking users to choose the 'hotter' person compiled from private dormitory images. • “Thefacebook” (Feb 2004) - Originally located at thefacebook.com. Within the first month, membership was restricted to students of Harvard College. • Eduardo Saverin (business aspects), Dustin Moskovitz (programmer), Andrew McCollum (graphic artist), and Chris Hughes joined to help promote the website. • March 2004- Expanded to Ivy League schools, and gradually most universities in US and Canada. • Zuckerberg and Moskovitz dropped out of Harvard to run Facebookfull time. • August 2005 - officially became Facebook. • September 2005 - Launched high-school version requiring an invitation to join. Later expanded membership eligibility to employees of several companies, including Apple Inc. and Microsoft. • September 26, 2006 - Opened to everyone of age 13 and older with a valid e-mail address.

  7. Culture, Values, and Qualities • Because FB started in the US and also used widely in Canada, FB is based on the western culture, especially the freedom of speech, free of expression. Therefore, some countries like mainland China and North Korea cannot access to FB. • Value people staying connected to friends, family, and who they care about. • Build communities based on REAL relationships. • Marketing on Facebook is quite easy and it can be very useful in regards to gaining exposure and developing a fan base or following for the products or services that are being offered.

  8. Trajectory • Mission Statement: Making the world open and connected. • Mark Zuckerberg is leading the Internet his direction. • When people use products with friends and whom they know, they are more engaging; therefore, industry and products are going to be remade to be social. • Facebook = Internet - E-mail replaced by FB messages - Search engines replaced by FB search • In the nearest future, FB will be a place, a LIFE. • Ubiquitous, worldwide.

  9. Disruption of Traditional Rules • TRUST - New way of sharing info and communicating. - Wide range of people interacting based on trust. - Friend suggestions, group page, relationship status, “tagging”, “see friendship,” “like,” etc. • Enable user to multitask: for example, one can chat, shop, leave comments, and like at the same time. • Do not need to open up several windows to view different outer source, like Youtube videos.

  10. Conclusion • Success in the industry - FB exceeded the number of clicks that of Google. - On November 2010, according to Secondmarket Inc., FB’s value was $41billion, surpassing eBay’s. - Third largest web company in US after Google and Amazon. • FB allowed people to easily approach SNS. As a result, it inspired and originated various social network services, and therefore, it is a sustainable business model. • FB has room for unlimited growth and development. • Criticism: Privacy, religious discrimination, and addiction.

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