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The Global Phenomena That Is Facebook Advertising

Charles Schulze
Florida International University
Executive MBA Program
Course: Global Financial Strategy
Professor: Krishnan Dandapani

Facebook .The Global Phenomena

Tables of Contents
Introduction

What is Facebook?

Popularity

Not Just a People Connect Media

Advertising Specificity Targeting Your Customers

Cost to Advertise vs Traditional Media Outlets

S.W.O.T. Analysis

10

Financial Data

14

Mergers & Acquisitions

17

Conclusion

18

Bibliography

19

Appendix A

22

Facebook .The Global Phenomena

INTRODUCTION
Business survives by customers to buy their products or services; one does not need a
business degree for that information. In order to succeed and grow, business owners and
managers must tell their customers about their products or services, this is done through
advertising. Marketing staffs throughout the world struggle each day to maximize corporate
advertising dollars. Which media to covet; which demographic to target; which advertising
agency to use; all major questions that if answered incorrectly could destroy a business. But
what if a company came along and said, We can hit millions of your selected demographic, with
a page you design and we wont charge you until you know exactly how many we have
reached. What would this be worth to you Mr. or Ms. Business Owner? It is true and very
lucrative for businesses who advertise on Facebook. This global phenomenon is taking business
by storm and is winning in every way. We will see why this advertising media is so strong. We
will attempt to explain the theories behind their success and why their success just may be
around a long time.

Facebook .The Global Phenomena

WHAT IS FACEBOOK
Through a tumultuous start, Mark Zuckerberg, then a 19 year old Harvard Sophomore,
had a vision of a social media site where people could have a site to interact. Users could vote
on different topics, post comments and find friends who may not be members. At this time the
site was called Facemash. The tumultuous start for Mark was that his site was very similar to the
one that some Harvard Seniors had created. In fact Mark was accused of hacking into their
Harvard Connection site for personal information that aided in starting his version.1 On January
11, 2004 Mark Zuckerberg registered the domain name THEFACEBOOK.COM. The early
versions of Facebook were a direct chat feature where a person can chat with people on their
friends list. People could choose who their friends were and not select anyone they wished not to
have. Users could build their own profiles with photos and the like. It was a few months later in
September of 2004 when The Wall made its debut.2 This was a place where members could
post anything on their mind and anyone who was a member could see the post and respond to it.

1 http://www.businessinsider.com/how-facebook-was-founded-2010-3?op=1
2 http://mashable.com/2011/02/04/facebook-7th-birthday/
Facebook .The Global Phenomena

Data from: Karocreations.com retrieved from - http://ts1.mm.bing.net/th?


&id=HN.608015018225109893&w=300&h=300&c=0&pid=1.9&rs=0&p=0

POPULARITY
In its first seven years, Facebook went from one million to 800 million users. The world has
never seen anything like this. According to United Nations Population Fund (UNFPA) in October
2011 there were seven billion people on earth, 11.4% of the entire world were Facebook
members.3 The many 800 million users were from five or six countries mostly from the U.S.,
Canada, England, Australia, and some from Germany and some from Japan.

3 http://www.unfpa.org/public/home/publications/pid/8726
Facebook .The Global Phenomena

Data from: Joanne Pressi retrieved from - http://joannecipressi.com/wp-content/uploads/2011/11/facebook-growth.png

Just when the majority of the populous said Facebook is as big as it can get. Zuckerberg said,
Not so fast. In the next two years Facebook grew to 1.23 billion users.4 (See chart below) By
the end of 2013, Facebook boasted 1.23 billion monthly active users worldwide, adding 170
million in just one year.

Data from: Facebook Newsroom retrieved from http://static.guim.co.uk/sysimages/Guardian/Pix/pictures/2014/2/4/1391511321556/Facebookusers.png

4 from http://static.guim.co.uk/sysimages/Guardian/Pix/pictures/2014/2/4/1391511321556/Facebookusers.png
Facebook .The Global Phenomena

Facebook states that as of December 31, 2013, 757 million users log on to Facebook daily.5
There is not a television show, radio show, print media that reaches that many people so fast.
Lets try to put the sheer magnitude of the power of Facebook in perspective. The most watched
program ever in history was the 2012 Ravens v 49ers Super Bowl XLVIII with 115.3 million
viewers. The 1983 final episode of M*A*S*H had 105.9 million viewers.6 The top three
American Magazine Monthly publications in 2013 were:

Ran
k

Name

Circulation

Founded

Publisher

AARP The Magazine

22,274,096

1958

AARP

2
3

AARP Bulletin
Costco Connection

22,244,820
8,654,464

1960
2003

AARP
Costco Wholesale

Data from: Wikipedia retrieved from http://en.wikipedia.org/wiki/List_of_magazines_by_circulation

If we were to review the top 100 monthly magazines in circulation in America it would not add
up to 1.23 billion. To quote a personal favorite show in Star Trek, Facebook Goes where no
man or one has gone before.

NOT JUST A PEOPLE CONNECT MEDIA


5 http://www.theguardian.com/news/datablog/2014/feb/04/facebook-in-numbersstatistics
6 http://en.wikipedia.org/wiki/List_of_most_watched_television_broadcasts
Facebook .The Global Phenomena

While it is unknown how many servers Facebook currently has, in 2012 they boasted 60,000
servers, more than any other social media company. Here are some stats that simply boggle the
minds of techies everywhere.7
2.5 billion content items shared per day (status updates + wall posts + photos + videos +
comments)
2.7 billion Likes per day
300 million photos uploaded per day
100+ petabytes of disk space in one of FBs largest Hadoop (HDFS) clusters
105 terabytes of data scanned via Hive, Facebooks Hadoop query language, every 30 minutes
70,000 queries executed on these databases per day
500+terabytes of new data ingested into the databases every day.
Some analysts state that this amount of data is nearly 2000 times the total mail delivered by the
U.S. Postal Service each day. So why Facebook would collect and retain all of this data posted
by its users? Someone has to pay for all of that storage and the programmers and the like. If
Facebook is free to join and use, who is paying for all of this? Advertising!

ADVERTISING SPECIFICITY TARGETING YOUR CUSTOMERS


7 http://gigaom.com/2012/08/22/facebook-is-collecting-your-data-500-terabytes-aday/
Facebook .The Global Phenomena

With this forum it is a highly tedious task to circumvent all the protocols that Facebook
uses for target marketing by its users, however, let just use one example. Youre a small business
making say golf gloves that are different colors, outside the traditional white and black that they
are normally designed. You have advertised in golf magazines and on some golf television
tournaments but sales are not moving as you like. In walks Facebook and they have a proposal
for you. Facebook uses a CPC methodology. CPC is Cost Per Click. They may charge a small
business with say five users about $400 a month for an ad with unlimited clicks. But here is the
winning formula; their target campaign for you will be to attach an ad to everyones home page
that has golf in their hobbies. That conceivably could be 250 million people. For everyone that
has clicked onto your ad a report is generated and sent to you.8 This report give you the
specificity of you target campaign. Who likes you and who is reading you ads? When members
hit their

like buttons you instantaneously see the fans growing on your ad page.

Marketing Managers are giddy with the fact that their advertising efforts have immediate returns
and they can see what is working and what is not. This specificity is critical to Facebooks
marketing success. With unlimited data storage they can target any group anywhere, anytime. Of
course Google, Twitter and some others do this as well, but not to the level of Facebook. Their
profile page is as detailed as any and they store everything you post, ask for and anyone you talk
to. Your specialty golf glove business is now exploding. Youre adding colors brought on by
Facebook friends asking for other colors. Youre even adding designs on them. Odds are your
marketing team is spending thousands or tens of thousands less on advertising and youre selling
much more product.
COST TO ADVERTISE VS TRADITIONAL MEDIA OUTLETS
8 https://www.facebook.com/business/products/measurement#ads-manager
Facebook .The Global Phenomena

In 2011, a 30 second television commercial cost about $350,000 to produce a national


television ad. Far less for a local one as the t.v. station would aid in the production. To run that
costly produced ad for one 30 second spot was about $100,000.9 The real problem here is not the
cost of the ad but whether anyone was really seeing it? Target demographics are not a truism in
t.v. ratings. After all if you running an ad during a football game, youre expecting males
between the ages of 18-31 to see the ad. Do they really watch the ads? There is no sound data
that I could find on this question; I can only say that most of my programs are on a DVR with me
work schedule and school. I do not watch a single commercial as I fast forward through them. At
$4 to $5 million for a Super Bowl ad including production costs, they are banking on you
watching them. For the most we do. They are funny and entertaining and are the talk at most
water coolers for days after the big game. Can the companies who advertise during the Super
Bowl really monitor sales as a regard to the ad? Most cannot. On Facebook, however, they can
see immediately who likes them, what they like about their product and people all over the world
are sending out messages on that product. It can be a wonderful thing for a successful product
and a disaster for one that fails. If 250 million people do not like the product, odds are youre
not selling it. Ad prices on Facebook are based on company size and target market.10 But in this
case, it is not what is spent on the ad that is as relevant as the price per view. With Facebook,
advertisers know how many looked, when they looked, and if they went into the company website from the ad page. Far better monitoring for the advertising dollar than any other media.

9 http://smallbusiness.chron.com/much-television-advertising-really-cost58718.html
10 http://www.qwaya.com/facebook-advertising-costs
Facebook .The Global Phenomena

10

S.W.O.T ANALYSIS
Strengths

Facebook has not stopped growing since the day it was born. Now a truly global entity
with worldwide appeal.

Data from: Dreamgrow.com retrieved from - http://www.dreamgrow.com/wp-content/uploads/2013/03/facebook-user-trends2013.png

Facebook has under-developed nations interest as well. They are growing in Africa faster
than any business that operated there. (see chart below)

Data from: Techloy.com retrieved from - http://techloy.com/wp-content/uploads/2012/10/facebook-users-africa-october-2012graph1.png

Major acquisitions of WhatsApp, Little Eye Labs An Android based Performance


Anaylsis Tool, Instagram-Photo Sharing App, Snaptu a Mobile app develop, have
Facebook well on its way to expanding into other areas.

Facebook .The Global Phenomena

11

As of January 2014, Facebook had 1.31 billion users and a market capitalization of
US$177.78 billion, in other words approximately $136 per Facebook user.11

Facebooks projected growth is nearly off any chart that could be made but we did find
one. ByLimedesign.com believes that Facebook could continue to show user growth into
2018 before leveling off. (see chart below)

Data from: bylimedesign.com Retrieved from - http://bylimedesign.com/facebook_user_growth.png

Weaknesses

Many Wall-Street analysts believe that Facebook has peaked. To some extent, Facebooks
biggest problem is the law of large numbers: It is difficult for a company that already has
close to a billion users to continue to grow at phenomenal rates, unless you assume that
eventually everyone on earth will belong to the network.

When it comes to powering e-commerce via retail storefronts on Facebook, there are
skeptics here, too. Many of them point out that a number of significant retailers,
including J.C. Penney and Nordstrom, have closed their Facebook stores after lackluster
sales. Forrester analyst Sucharita Mulpuru said in a report released last year that when it

11 http://en.wikipedia.org/wiki/List_of_acquisitions_by_Facebook
Facebook .The Global Phenomena

12

comes to e-commerce, Facebook may already be as big as it is going to get, because


Facebook stores are largely ineffective, particularly when it comes to big retailers.12

Facebook is already pulling in close to $1 billion in revenue per quarter, but the $100
billion market valuation that many are expecting from its IPO presumes Facebook will be
able to increase that by several orders of magnitude something that is exceedingly
rare. In fact some have already raised red flags about the fact that the company currently
makes about $5 for every user it has, much lower than other technology companies. 13

OPPORTUNITES

The constant emmergence of the mobile phone and its capabilities. Facebook founder
Mark Zuckerberg has made it clear that mobile growth is a top priority for the company.
There is no argument, he told Wall Street analysts earlier this year. Facebook is a
mobile company.14

Increase ads by enhancing graphics and streaming capabilities.

Continue to be the social media leader in development of ideas by hiring the best
computer minds in the world.

THREATS

12-13 http://research.gigaom.com/report/the-real-issue-behind-facebooks-ipo-how-much-bigger-canthe-company-get/

13
14 http://business.time.com/2013/05/02/why-mobile-growth-is-the-key-to-facebooks-future/
Facebook .The Global Phenomena

13

FB Dominance Will Be Hard to Maintain: A recent Princeton study posited that Facebook
will lose 80% of its users between 2015 and 2017. And whether or not you believe this
stat, its important to understand that most tech fads and social media fads wax and then
wane. (Remember MySpace? How about AOL (AOL) Instant Messenger?) Already we
are seeing Facebook face flatlining users in North America and Europe as the company
reaches critical mass.15

Sentiment Is Crumbling: Of course, my earlier point was that usefulness or dominance


doesnt necessarily add up to profits for investors. Its important to notice that amid these
headwinds to the balance sheet, there also are real headwinds for FB stock. Consider that
shares are down about 17% from their 52-week high in March above $72, and highgrowth tech stocks across the board from Twitter (TWTR) to Amazon.com (AMZN)
are drifting lower. Even if all things continue to go well for FB stock in the next few
earnings reports, this kind of negative sentiment could have a very real impact.16

Over the past seven years if Facebook was in need of something they would just go out
and buy it. If Facebooks market prowess continues to wain, it will be harded to obtain
these competitors, or they will simply have to pay more for it.

Myspace, Google and other mega social sites have not withered in Facebooks wake.
Google has shown impressive growth along side of of Facebook.

FINANCIAL DATA

15-16 http://slant.investorplace.com/2014/05/fb-stock-facebook-threats/
16

Facebook .The Global Phenomena

14

Facebook yearly income statement for a four year period.


Annual Income Statement (values in 000's)
Period Ending:
Trend 12/31/2013 12/31/2012 12/31/2011 12/31/2010
Total Revenue
$7,872,000 $5,089,000 $3,711,000 $1,974,000
Cost of Revenue

$1,875,000 $1,364,000 $860,000

Gross Profit

$5,997,000 $3,725,000 $2,851,000 $1,481,000

Operating Expenses
Research and Development

$1,415,000 $1,399,000 $388,000

$144,000

Sales, General and Admin.

$1,778,000 $1,788,000 $707,000

$305,000

Non-Recurring Items
Other Operating Items
Operating Income

$0
$0
$0
$0
$2,804,000 $538,000

$0
$0
$0
$0
$1,756,000 $1,032,000

Add'l income/expense items

$6,000

($19,000) ($2,000)

Earnings Before Interest and Tax

$2,810,000 $545,000

$1,737,000 $1,030,000

Interest Expense

$56,000

$42,000

Earnings Before Tax

$2,754,000 $494,000

$1,695,000 $1,008,000

Income Tax

$1,254,000 $441,000

$695,000

Minority Interest
Equity Earnings/Loss Unconsolidated
Subsidiary
Net Income-Cont. Operations

($9,000)
$0

$1,491,000 $32,000

$668,000

$372,000

Net Income

$1,491,000 $32,000

$668,000

$372,000

Net Income Applicable to Common


Shareholders

$1,491,000 $32,000

$668,000

$372,000

$7,000
$51,000

$493,000

$22,000

$402,000

($21,000) ($332,000) ($234,000)


$0
$0
$0

These numbers are decent. Revenues climbed over the period about $1.2 billion annually. The
reason Facebooks $7.8 billion in revenues are not abundantly impressive is that Facebook has a
$170 billion market cap. For example Amazon has a Market cap of $165 billion; however, they
did $74.5 billion in revenues in 2013.17 I believe that Facebooks high market cap revolves
17 http://www.marketwatch.com/investing/stock/amzn/financials
Facebook .The Global Phenomena

15

around investors dreaming of what could be not what really is as in the case of Amazon. As we
review some of their ratios, perhaps we can look further into their future.

Facebook Fundamentals
Better Than Average

Worse Than Average

Compare Facebook to competition

Facebook

Peer Average

Return On Equity

13.47 %

(10.56) %

Return On Asset

13.25 %

(13.62) %

Profit Margin

21.57 %

(1.86) %

Operating Margin

40.64 %

(11.69) %

Current Valuation
Shares Outstanding
Shares Owned by Insiders

162.43 B
2.57 B
8.00 %

307.1 B
566.68 M
6.99 %

Shares Owned by Institutions

46.70 %

17.39 %

Number of Shares Shorted


Price to Earning

46.13 M
88.27 times

3.32 M
43.94 times

Price to Book

10.26 times

10.12 times

Price to Sales

19.37 times

14.24 times

Revenue
Gross Profit
EBITDA
Net Income
Cash and Equivalents
Cash per Share

8.92 B
6B
4.66 B
1.91 B
12.63 B
4.92 times

17.1 B
15.45 B
1.87 B
852.56 M
4.8 B
6.08 times

Total Debt
Debt to Equity

392 M
0.02 times

10.63 B
0.61 times

Current Ratio

13.56 times

3.82 times

Book Value Per Share

6.56 times

19.05 times

Cash Flow from Operations


Short Ratio

4.79 B
0.90 times

1.17 B
2.33 times

One Year High


One Year Low
Earnings Per Share

72.59
24.15
0.77 times

39.53
28.13
1.69 times

Price to Earnings To Growth

1.32 times

1.07 times

Facebook .The Global Phenomena

16

Beta
Market Capitalization
Total Asset
Retained Earnings
Working Capital
Current Asset
Current Liabilities
Z Score
Probability Of Bankruptcy

1.08
174.67 B
19.03 B
3.8 B
13.02 B
14.06 B
1.04 B
267.0

0.24
33.57 B
74.73 B
19.14 B
3.76 B
24.24 B
21.36 B
601.16

1.00 %

39.27 %

Data from: Macroaxis Inc, Retrieved from - http://www.macroaxis.com/invest/market/FB--fundamentals--Facebook-Inc

Facebook is posting mixed numbers with all of their ratios. Based on latest financial disclosure
Facebook Inc. reported $8.92 billion of revenue. This is 27.18% higher than that of the
Technology sector, and 290.04% higher than that of Internet Information Providers industry; the
revenue for all stocks is 47.84% higher than the company. Facebook Price to Earnings Ratio is a
staggering 88.27 times, twice the number of the industry.

Data from Macroaxis Inc. retrieved from - http://www.macroaxis.com/invest/market/FB--valuation--Facebook-Inc

MERGERS & ACQUSITIONS

Facebook .The Global Phenomena

17

Facebook has acquired some 40 companies with its largest acquisition being the purchase of
WhatsApp, paying more than $40 per WhatsApp user. Rather extreme considering that a
WhatsApp user pays .99 per year to use service. It also purchased the defunct company
ConnectU in a court settlement and acquired intellectual property formerly held by rival
Friendster. The majority of the companies acquired by Facebook are based in the United States,
and in turn, a large percentage of these companies are based in or around the San Francisco Bay
Area. Facebook has also made investments in LuckyCal and Wildfire Interactive. A complete list
of Facebooks acquisitions is listed on Appendix A.

CONCLUSION
Facebook .The Global Phenomena

18

Through the rough start and ten years of reasonable success, Facebook has entrenched itself into
a global commerce that few can compare. But the jury is still out on their end game. Just how
big will they grow? There are certainly more happy advertisers than unhappy ones. After all

who can argue with having their product or service shown to hundreds of millions of people
every day? For far less money than conventional media advertising companies can go global
every minute of the day. Facebook will need to sell more advertising if they are going to get their
ratios back in line with industry standards. With more and more smart phones hitting the street
and Facebook buying an Android interface company, there could be significant growth in this
area. No can currently deny the industry force that Facebook has become, but there are many that
doubt their continued growth and their successful future. Facebook and Zuckerberg are big
enough to create their own pathways. They do not follow anyone, however, their path is not laid
in gold and they need to get creative if this giant is to succeed its next ten years. During this year
FIFA World Cup, Facebook had ONE billion interactions in ONE day.18 No other entity can reach
those masses, so quickly. If Facebook can continue demonstrating advertising suitability to its
clients that road just may be repaved in gold. That could not be too soon for investors.
18

http://www.nbcnewyork.com/news/sports/Facebook-Reaches-One-Billion-Interactions-World-Cup-Social-Media265226731.html

Facebook .The Global Phenomena

19

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APPENDIX A

#
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21

Acquisition
date

Company

Business

Location

facebook.c
om domain AboutFace
USA, Boston
name
Offline
USA, Mountain View,
July 19, 2007 Parakey
applications/Web OS CA
June 23, 2008 ConnectU Social networking
USA, Cambridge, MA
August 10,
Social networking
USA, Mountain View,
FriendFeed
2009
aggregator
CA
February 19,
Malaysia, Taman
Octazen
Contact importer
2010
Melawati, Kuala Lumpur
March 2, 2010 Divvyshot Photo management
USA, San Francisco
USA, Mountain View,
Friendster Intellectual
May 13, 2010
CA /
Malaysia, Kuala
patents
property/patents
Lumpur
August 23,
2005

Private

Value (USD)
$200,000

$31,000,000
$47,500,000

$40,000,000

May 26, 2010 ShareGrove conversations/Forums


USA, San Mateo, CA
Travel
July 8, 2010 Nextstop
USA, San Francisco
$2,500,000
recommendations
August 15,
USA, Mountain View,
Chai Labs Internet applications
$10,000,000
2010
CA
August 20,
Check-ins/status
Hot Potato
USA, Brooklyn
~$10,000,000
2010
updates
October 29,
File hosting and
Drop.io
USA, Dumbo, Brooklyn ~$10,000,000
2010
sharing
FB.com
November 15,
American Farm
domain
USA, Washington, D.C. $8,500,000
2010
Bureau Federation
name
January 25,
Rel8tion Mobile advertising
USA, Seattle
undisclosed
2011
March 2, 2011 Beluga
Group messaging
USA, Palo Alto, CA
undisclosed
March 20,
Snaptu
Mobile app developer
Israel
$70,000,000
2011
March 24,
RecRec
Computer vision
USA, San Francisco
undisclosed
2011
USA, SoHo, New York
April 27, 2011 DayTum Information graphics
City
June 9, 2011 Sofa
Software design
Netherlands, Amsterdam
June 9, 2011 MailRank Email prioritization
USA, New York
August 2, 2011 Push Pop Digital publishing
undisclosed
Facebook .The Global Phenomena

23

Acquisition
date

Company

Business

Location

Value (USD)

Press
22
23
24
25
26
27
28
29
30
31
32

33
34
35
36
37
38
39
40
41
42
43

October 10,
2011
November 8,
2011
December 2,
2011
April 9, 2012
April 13, 2012

Social casual Q&A


USA, Mountain View,
undisclosed
service app
California
HTML5 mobile apps,
Strobe
USA, San Francisco
undisclosed
SproutCore
Location Based
Gowalla
USA, Austin
Service
Instagram Photo sharing
USA, San Francisco
$1,000,000,000
Tagtile
Customer loyalty app
USA, San Francisco, CA undisclosed
Social discovery
May 5, 2012 Glancee
USA, San Francisco
undisclosed
platform
May 15, 2012 Lightbox.com Photo sharing
UK, London
undisclosed
May 21, 2012 Karma
Social gifting
USA
undisclosed
Face recognition
June 18, 2012 Face.com
Israel, Tel Aviv
$100,000,000
platform
Mobile bookmarking
July 14, 2012 Spool
USA, San Francisco
undisclosed
and sharing content
RSS app Pulp and
Acrylic
July 20, 2012
secure database app
Canada, Vancouver
undisclosed
Software
Wallet
Threadsy is a social
August 24,
aggregator, Maker of
Threadsy
USA, San Francisco
undisclosed
2012
social marketing tool
Swaylo
February 28,
USA, Seattle,
less than
Atlas
Atlas advertiser suite
2013
Washington
$100,000,000
USA, Mountain View,
March 2013
osmeta
Mobile software
CA
March 14,
USA, New York, NY,
Hot Studio Design agency
2013
San Francisco, CA
Cross-platform game
April 23, 2013 Spaceport
framework
April 25, 2013 Parse
Mobile app backends
USA, San Francisco, CA
Automatic
July 18, 2013 Monoidics
UK, London
verification software
August 12,
Speech translation
Jibbigo
2013
app
October 13,
Onavo
Mobile analytics
2013
December 17, SportStrea Sports conversation
USA, San Francisco, CA
2013
m
analysis
January 8,
Little Eye Performance analysis
India, Bangalore, India $15,000,000[53]
Friend.ly

Facebook .The Global Phenomena

24

Acquisition
date

45
46
47

Business

Location

and monitoring tools


for Android
January 13,
Web conversation
Branch
USA, New York, NY
2014
platform
February 19,
Mobile instant
USA, Mountain View,
WhatsApp
2014
messaging
CA
March 25,
Virtual reality
Oculus VR
USA, Irvine, CA
2014
technology
ProtoGeo Fitness tracking app
April 24, 2014
Finland, Helsinki
Oy
Moves
2014

44

Company

Value (USD)

Labs

Data from Wikipedia Retrieved from - http://en.wikipedia.org/w/index.php?


title=List_of_mergers_and_acquisitions_by_Facebook&printable=yes

Facebook .The Global Phenomena

25

$15,000,000
$19,000,000,000
$2,000,000,000
undisclosed