Most Used Platform

Facebook is now worth more than Walmart. No this is not a joke; yes I used a reliable source. On June 23, 2015, CNN reported that Facebook’s market value is nearly $245 billion, while Walmart is worth about $235 billion. Now obviously Walmart and Facebook don’t compete with each other, but it’s a pretty remarkable feat for a social media site that has only been around since 2004 to be worth more than the world’s largest store when it comes to sales. 

Facebook has been a powerhouse in social media innovation for a long time now. With so many social media platforms that have been invented, how has Facebook able to become and maintain the number one most popular platform slot? According to FBZA, “versatile features that cater for a variety of needs for the different categories of users continue to drive traffic to the platform.” So, the answer is plain and simple: Facebook is just different than any other social media. And what does different mean? It means more successful. Companies that are able to differentiate themselves from their competitors always come out on top. When I think of Facebook, I think of multiple social media platforms combined. The main purpose of Instagram is sharing photos; Facebook can do that. The main purpose of Twitter is to update your status, share articles and opinions, and follow news updates; Facebook can do that. Facebook continues to improve and evolve through the years, a strategy that MySpace didn’t realize to do and look where it’s gotten them. FBZA also came to a conclusion that there is a list of factors that social media sites must combine and implement in order to become the world’s biggest: (1) Vision, (2) Financial Investment, (3) Inclusive approach to membership availability, (4) A versatile array of application features, (5) Continuous improvement to guarantee relevance, (6) Media. From the beginning, Facebook has capitalized and evolved itself into applying all of these factors. Although there are rumors and articles saying that Facebook is going to start going downhill here soon, I really don’t see that ever happening. 

Sources:

http://money.cnn.com/2015/06/23/investing/facebook-walmart-market-value/

http://www.fbza.net/2014/10/how-facebook-became-worlds-biggest.html