Thursday 19 January 2017

Facebook hasn't conquered web -- now it is the web

For 500 million members the site is about far more than just social networking, says Shane Richmond

Published 06/01/2011 | 05:00

Whichever way you look at it, 2010 was a spectacular year for Facebook. In America, it overtook Google to become the most visited website; globally, it's the third-largest website, behind Microsoft and Google. Its founder and chief executive, Mark Zuckerberg, was 'Time' magazine's Person of the Year.

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Over the new year weekend, Facebook users uploaded 750 million photos. That's more than one picture for each user of the site, which now has a membership of well over 500 million people. And this week it was announced that Goldman Sachs will invest $450m (€342m) in Facebook, taking the valuation of the site to $50bn (€38bn).

Then consider the fact that Facebook is still growing -- at the rate of 700,000 people a day. It's closing in on 600 million users, and as more join, the network becomes more powerful. Its members aren't just chatting and sharing photos, they are also playing games, reading the news and keeping up with famous people.

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