Facebook started in the campus of Harvard College and was launched on 4th February, 2004 by Mark Zuckerberg and the fellow students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. This is a social networking site and is used for connecting with people all over the world. This was a huge success and people found it easy to use and they got connected to the people instantly and that to all over the world.
In any business, there are several companies & brands which compete with each other by offering similar products & services.
For any company to thrive, it is not only important for them to improve their own products, but to also look at what their competitor is offering.
Below we look at the top 10 competitors of Facebook.
Twitter Inc, now known as X, is a social networking platform based out of San Francisco, California. It was only established in 2006 and has come a really long way in a very brief period of time, and in 2023 is was acquired by Elon Musk as a part of X Corp. It is a website created to cater a large amount of Cosmopolitan crowd, baring the Cosmopolitan culture in mind, Twitter comes in a plethora of different languages and has crossed a mark of whooping 300 million users.
Instagram is one of the world's leading social media platform with more than a billion users. There’s no denying the fact that Instagram is now the formidable new player in the social media market. Instagram, now a part of Meta, was acquired in 2012 but it still competes with Facebook app.
WhatsApp is a messaging app which was founded in 2009 by Jan Koum and Bryan Acton who were former Yahoo employees. It was named WhatsApp as it is similar to ‘What’s up’. It was later acquired by Facebook for 19 billion USD.
LinkedIn is a social networking service founded in 2002 and launched in 2003. It was founded by Reid Hoffman, Allen Blue, Konstantin Guericke, Eric Ly and Jean-Luc Vaillant who used to work at PayPal and socialnet. The main focus of the company is to form a network of people looking for jobs, companies offering the jobs and people hiring for the jobs.
Snapchat is Multimedia Mobile Application and Image messaging application. It was constructed by Evan Spiegel, Reggie Brown and Bobby Murphy originally in 2011 as a part at Stanford University. The parent company of Snapchat is Snap Inc.
WeChat is a messaging, commerce and payment application from the Tencent, a Chinese Technology giant. It has more than a billion active users. It provides text messaging, video conferencing, video games, photo & location sharing etc.
In 1975 Bill Gates founded Microsoft along with Paul Allen. It is an American multinational technology company with its headquarter in Washington and has an annual income in excess of US $150 billion. The idea initially was to manufacture only computers but soon they delved into software and Operating System segments, and thus introduced Windows and other such Microsoft Software.
Youtube is one of the biggest competitors of Facebook.
Skype is an online application which provides support for voice calls, video calls and text messages over its own platform as well as on other mobile phones using Voice over Internet Protocol. Skype was made live for public in 2003 and was developed by Janus Friis and Niklas Zennstrom. It was later acquired by Microsoft and now runs as a division of its parent company.
Quora is a question-answer based website founded by Adam D’Angelo and Charlie Cheever in June 2009. Users can post questions and anyone who knows the answer can post, provided both are registered on the website, which is free of cost. The aim of Quora is to bring together a pool of first hand answers and experiences from people all over the world and share it.
To conclude, the above article highlights the various competitors which compete with Facebook. This understanding helps to evaluate the various external business factors for any company.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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