Afterward, Facebook moved to Palo Alto, California. This is where they teamed up with Sean Parker (founder of Napster). Facebook was then given $500,000 by Paypal's cofounder Peter Thiel, who was a friend of Parker. Later on, Mark Zuckerberg refused an offer of $10 million for Facebook in 2004, but then accepted $12.7 million from Accell Partners as funding. In 2005, Facebook (which was then worth $100 million) was made available to high school students. In 2006, it was made available to everyone. At this time, he was offered even higher deals at $750 million from Viacom and $1 billion from Yahoo, both of which were refused.
Microsoft purchased a 1.6 percent share of the company for $240 million. This seemed like an overbid at this point for most skeptics because Facebook only had a yearly revenue of $150 million. However, by 2011, Facebook held a value of $50 billion. During the summer of 2012, the company shares were made available on NASDAQ at $42.05 per share.
Facebook has come a long way from having only 845 people using it once a month to 483 million people using it daily. Today, over 100 billion people have connected on Facebook, 250 million images are uploaded daily and 2.7 billion likes are made daily.
Working for Facebook
Getting employment with a young, yet successful company is desirable for many jobseekers coming out of college. The great news is that Facebook believes that talent trumps whatever college degree or experience you hold. In 2010, Mark Zuckerberg stated, "Someone who is exceptional in their role is not just a little better than someone who is pretty good. They are 100 times better."
Facebook receives 250,000 applications yearly for the hundreds of job openings that it has. The company is known for purchasing startups - to date, it has bought 28 companies, usually for their talent, rather than their products.
Positions commonly available at Facebook include:
- Software engineers
- Storage engineers
- Market researchers
- Monetization analysts
- Operations analysts
- Technical account managers
- Database engineers
- Content strategists
- Security engineers
- Product designers
- Communication designers
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