Lawsuits, investments, and dorm room ideas- everything that was done right.
Parag Agarwal has been appointed as the new Twitter CEO after the stepping down of Jack Dorsey. On November 29th, Jack stepped down, ending his 16 year old stint with the social media monster. He shall remain the board member till may 2022.
Click to read Jack Dorsey's letter on twitter
Coming on to Parag, he is a graduate of IIT Bombay and has a PhD from Stanford University, California.
Click to read the newzpepper article with more details on Parag and Jack
Let us get to know our social media a bit better:
Twitter is one of the most known and used networking sites. It was founded in the year 2006 by Jack Dorsey, Biz Stone, Evan Williams, and Noah Glass.
There are two solid competitors of Twitter. Facebook and Instagram.
Twitter is meant for sharing information in the form of snippets of news from around the world.
Facebook is used to connect with members of your primary circle and share in-depth informational ideas.
Instagram is used to share photos. Engage with people and build an influence that can be seen, and partially lived.
Demographics in study:
40% of twitter users are in the age groups of 18-30
20% people are of the age groups 50 and above
Facebook has 80% of 18-30 aged group people
And 65% people aged between 50 and above use facebook as their primary social site.
Instagram has over 75% of people who are aged between 18-24
Founding stories of Social Media and the CEOs.
Social media is free for all, yet the makers are so rich, how?
Instagram was released on October 6th 2010 by Kevin Systrom and Mike Krieger. It has a developer platform of META itself. It is available in 32 languages.
Kevin in 2009 was working on a travel recommendations startup. He learned to code from working at NextStop, his startup idea and made a prototype called Burbn. Inspired by his taste of Whiskeys. He showed the plans and photos over the app and Burbn became very famous for the same reason.
The application focuses on what it is named, INSTAnt teleGRAM. In 2012, Mark Zuckerberg took over Instagram for $1 Billion in Cash and stock. That is roughly about 75,165,000,000.00 Indian Rupee.
19 Year old Mark launched the site as a sophomore in Harvard on 4th of February, 2004. Called thefacebook.com. With one of the most used websites visited by 400 million people a month as per the latest studies.
Mark suffered a lawsuit by three seniors at Harward that still continues today. In the year 2007, Judge Douglas P. Woodlock in Massachuserrs claimed the allegations were tissue thin. “Dorm room chit-chats are not to be taken seriously.”
Remember children, have everything written down on paper! Well, sometimes some messages as well, like the hard drive at harvard that still is a continuing argument for the lawsuit to be alive. Swiftly moving on, read the whole story here https://www.businessinsider.com/how-facebook-was-founded-2010-3?IR=T#we-can-talk-about-that-after-i-get-all-the-basic-functionality-up-tomorrow-night-1
Twitter was earlier known as twitter to gain domain advantages. The first message on twitter was “just setting up my twitter” by Jack himself. It was supposed to be an sms based platform where friends can post about each other. Almost like texting.
Looks like a lot can go on in dorm rooms, if done right.
Stock Update on Social Media:
Coming onto growth, these social media platforms have done a great job in investing and making itself user centric. The global advertising revenue out of social media is around $32.18 billion in 2019. Which is 24,18,80,97,00,000 Indian Rupee.
Facebook: Market cap: US$804.65 billion; stock price: US$282.45 which is 6,04,81,51,72,50,000 Indian Rupee and 2,12,30,35,42,50,000 Indian Rupee respectively.
Twitter: Market cap: US$41.47 billion; stock price: US$52.43 which is 31,11,83,10,00,000 Indian Rupee and almost 39,08,58,00,00,000 Indian Rupee respectively!