Facebook Company Overview
Mark Elliot Zuckerberg is an American programmer and internet entrepreneur. He is best known as the most prominent of five co-founders of the social networking website, ‘Facebook‘. Mark Zuckerberg co-founded Facebook out of his college dormitory .
He left Harvard after his sophomore year to consider the location , the user base of which has grown to quite 250 million people, making Zuckerberg a billionaire. Mark Elliot Zuckerberg was born on May 14, 1984, in White Plains, New York, into a cushty , well-educated family, and raised within the nearby village of Dobbs Ferry. His father, Edward Zuckerberg, ran a practice attached to the family’s home. His mother, Karen, worked as a psychiatrist.
Mark developed an interest in computers at an early age; when he was about 12, he used Atari BASIC to make a messaging program he named “Zucknet.” His father used the program in his dental office, in order that the receptionist could inform him of a replacement patient without yelling across the space . The family also used Zucknet to speak within the house. Together with his friends, he also created computer games only for fun. To keep up with Mark’s burgeoning interest in computers his parents hired private computer tutor David Newman to come to the house once a week and work with Mark.
He began taking graduate courses at nearby Mercy College around this same time. Mark later studied at Phillips Exeter Academy, an exclusive preparatory school in New Hampshire. There he showed talent in fencing, becoming the captain of the school’s team. He also excelled in literature, earning a diploma in classics. Yet Mark remained fascinated by computers, and continued to figure on developing new programs. While still in high school , he created an early version of the music software Pandora, which he called Synapse. Several companies including AOL and Microsoft-expressed an interest in buying the software, and hiring the teenager before graduation. He declined the offers.
Mark Zuckerberg Degree
After graduating from Exeter in 2002, Mark enrolled at Harvard University. By his sophomore year at the Ivy League institution, he had developed a reputation because the go-to software developer on campus. It was at that point that he built a program called Course Match, which helped students choose their classes supported the course selections of other users. He also invented Face mash, which compared the photographs of two students on campus and allowed users to vote on which one was more attractive.
The program became wildly popular, but was later shut down by the school administration after it was deemed inappropriate. Based on the excitement of his previous projects, three of his fellow students-Divya Narendra, and twins Cameron and Tyler Winklevoss-sought him bent work on a thought for a social networking site they called Harvard Connection. This site was designed to use information from Harvard’s student networks so as to make a dating site for the Harvard elite. Mark agreed to assist with the project but soon dropped bent work on his own social networking site with friends Dustin Moskovitz, Chris Hughes and Eduardo Saverin.
Mark and his friends created a site that allowed users to create their own profiles, upload photos, and communicate with other users. The group ran the site-first called The Facebook-out of a dorm room at Harvard until June 2004. After his sophomore year, Mark dropped out of college to devote himself to Facebook full time, moving the company to Palo Alto, California. By the top of 2004, Facebook had 1 million users.
In 2005, Mark enterprise received an enormous boost from the risk capital firm Accel Partners. Accel invested $12.7 million into the network, which at the time was open only to Ivy League students. Zuckerberg’s company then granted access to other colleges, high school and international schools, pushing the site’s membership to quite 5.5 million users by December 2005. The site then began attracting the interest of other companies, who wanted to advertise with the favored social hub. Not eager to sell out, Zuckerberg turned down offers from companies like Yahoo! and MTV Networks. Instead, he focused on expanding the location , opening up his project to outside developers and adding more features.
Mark seemed to be going nowhere but up, however in 2006, the business mogul faced his first big hurdle. The creators of Harvard Connection claimed that Zuckerberg stole their idea, and insisted the software developer needed to buy their business losses. Although an initial settlement of $65 million was reached between the 2 parties, the legal dispute over the matter continued well into 2011, after Narendra and therefore the Winklevosses claimed they were misled in regards to the value of their stock.
Mark faced yet another personal challenge when the 2009 book The Accidental Billionaires, by writer Ben Mezrich, hit stores. Mezrich was heavily criticized for his re-telling of Zuckerberg’s story, which used invented scenes, re-imagined dialogue and fictional characters. Regardless of how true-to-life the story was, Mezrich managed to sell the rights of the story to screenwriter Aaron Sorkin, and therefore the critically acclaimed film The Social Network received eight Academy Award nominations. Mark objected strongly to the film’s narrative, and later told a reporter at The New Yorker that a lot of of the small print within the film were inaccurate.
Yet Mark and Facebook continued to succeed, in spite of the criticism. Time magazine named him Person of the Year in 2010, and life style placed him at the highest of their New Establishment list. Forbes also ranked Zuckerberg at No. 35-beating out Apple CEO Steve Jobs-on its “400” list, estimating his net worth to be $6.9 billion.
About Life History Mark Zuckerberg
Since amassing his sizeable fortune, mark has used his millions to fund a spread of philanthropic causes. The most notable examples came in 2010. In September of that year, he donated $100 million to save lots of the failing Newark Public Schools system in New Jersey. Then, in December 2010, Mark signed the “Giving Pledge”, promising to donate a minimum of 50 percent of his wealth to charity over the course of his lifetime. Other Giving Pledge members include Gates , Warren Buffett and Lucas .
Mark made two major life changes in May 2012. Facebook had its initial public offering, which raised $16 billion, making it the biggest internet IPO in history. He holds quite 1 / 4 of its stock and retains 57 percent control of the voting shares.
On May 19, 2012-a day after the IPO—Mark wed his longtime girlfriend, Priscilla Chan. About 100 people gathered at the couple’s Palo Alto , California home. In May 2013, Facebook made the Fortune 500 list for the primary time-making Mark Zuckerberg, at the age of 28, the youngest CEO on the list. As of April 2013, Zuckerberg is that the chairman and chief executive of Facebook, Inc. and in 2013 his personal wealth was estimated to be US$16.8 billion.