about  /   archives  /   contact  /   subscribe  /   twitter    
Key links:
Primary website:
facebook.com
Primary Twitter:
@facebook

Editor’s Note: Encyclo has not been regularly updated since August 2014, so information posted here is likely to be out of date and may be no longer accurate. It’s best used as a snapshot of the media landscape at that point in time.

Facebook is the Internet’s largest social network.

Facebook topped 1 billion active users in September 2012 and was the second-most-visited website in the United States, behind Google, as of 2011. Its mobile platform had 874 million active users in 2013. It is also the top source of traffic to the web’s largest portals, such as Yahoo and MSN.

Facebook generated $3.7 billion in revenue in 2011, of which 85% came from advertising. The remainder of its revenue comes from payments, many from game developers using the platform — particularly from Zynga, which was the source of 12% of Facebook’s revenue in 2011. While some revenue had come from virtual goods such as Facebook Gifts, the Facebook Gift Shop closed in August 2010. Facebook first turned a profit in 2009 and made $1 billion in profit in 2011. It went public in May 2012, though its initial public offering was marred by accusations of giving incomplete information to investors, leading to lawsuits from shareholders.

Facebook was founded in 2004 by four Harvard University students led by Mark Zuckerberg, who remains its CEO. Facebook began as a network for Harvard students but expanded to include other colleges in late 2004, high school students in 2005, corporate networks in 2006, and everyone later that year.

Facebook launched its News Feed in 2006, a development for which it submitted a patent application earlier that year and received one in 2010. Several observers have seen the central role of the News Feed, as well as other innovations such as trending topics, as an attempt to co-opt the features of the microblogging platform Twitter. Facebook launched a news aggregation app called Paper in 2014 that relies on a combination of human and algorithmic news selection.

Facebook also has an Open Stream API, which allows third-party developers to use the feed inside their own applications. In 2011, Facebook added a shorter-form feed called Ticker, as well as a more comprehensive profile page called Timeline. It also bought the link-sharing and conversation services Branch and Potluck in 2014.

In 2008, Facebook launched Facebook Connect, which allowed outside sites to extend users’ Facebook login to their own sites. Facebook Connect was folded into Open Graph in April 2010.

Peers, allies, & competitors:
Recent Nieman Lab coverage:
Feb. 25, 2025 / Craig Silverman, ProPublica
As Facebook abandons fact-checking, it’s also offering bonuses for viral content — Hours after Donald Trump was sworn in as president, users spread a false claim on Facebook that Immigration and Customs Enforcement was paying a bounty for reports of undocumented people. “BREAKING — ICE is allegedly...
Jan. 9, 2025 / Joshua Benton
That time Rupert Murdoch endorsed Jimmy Carter (no, really) — It looks like some sort of mistake, a bizarre multi-paragraph typo: The New York Post endorsing Jimmy Carter, less than an inch below a masthead that proclaims “RUPERT MURDOCH, Publisher and Editor-in-Chief.”...
Jan. 7, 2025 / Sarah Scire
“A hard hit for the fact-checking community and journalism”: Meta eliminates fact-checking in the U.S. — Meta will replace its third-party fact-checking program in the U.S. with a crowd-sourced community notes program similar to the one used by X, CEO Mark Zuckerberg announced on his Facebook page on Tuesday morning. The wi...
Nov. 18, 2024 / Sarah Scire
Two-thirds of news influencers are men — and most have never worked for a news organization — There’s always Monday morning quarterbacking after an election and, in the past two weeks, an incredible number of takes have invoked a podcaster by the name of Joe Rogan. A new Pew Research Center report focuses o...
Sept. 25, 2024 / Joshua Benton
What would Project 2025 do for (or to) journalism? — Has there ever been a more talked-about 922-page policy document than Mandate for Leadership: The Conservative Promise? Oh — perhaps you know it better under the name of the group that produced it, Project 2025. The He...

Recently around the web, from Mediagazer:

Primary author: Mark Coddington. Main text last updated: August 28, 2014.
Make this entry better
How could this entry improve? What's missing, unclear, or wrong?
Name (optional)
Email (optional)
Houston Chronicle logo

The Houston Chronicle is a daily newspaper owned by Hearst Corp. It is the second-largest newspaper in Texas and 13th-largest in the U.S., with 370,961 in combined print and online daily circulation as of 2014. The Chronicle’s online operation has been praised for its innovation. A 2006 study conducted by NYU professor Jay Rosen named…

Put Encyclo on your site
Embed this Encyclo entry in your blog or webpage by copying this code into your HTML:

Encyclo is made possible by a grant from the Knight Foundation.
The Nieman Journalism Lab is a collaborative attempt to figure out how quality journalism can survive and thrive in the Internet age.
Some rights reserved. Copyright information »