Facebook’s Success Gives Hope to Snapchat and Other Tech Start-ups

Facebook’s Success Gives Hope to Snapchat and Other Tech Start-ups

Facebook has over the past few years gone on to show how much success can be achieved if the idea is right and the belief can match up for companies in the IT world or even Tech world at large. The site has gone from an idea somewhere in Harvard to become one of the most visited websites on the planet.

When Mark Zuckerberg and some of his college roommates chose to pursue the idea of what is now Facebook some ten years ago, very few would have known where the path would take them.  They had initially limited the use of the website to a few people in the Boston area but with time expanded it to include more people before eventually opening it up to the world. Fast forward just under a decade and the company has a total assets worth of something around 15 billion dollars.

Snapchat are being rumoured to have turned down a takeover offer of 3 billion dollars from Facebook and another 4 billion from Google. Understandably, there was a good bit of noise generated by the action. Many wondered if the owner, Evan Spiegel, had gone crazy. There doesn’t seem to be much sense in turning down such a massive amount of money for a company so young. The truth is the next few years will be massively decisive in showing the sense in the decision not to sell the company for such a massive amount of money. If the company goes in the direction of Facebook, Spiegel will be hailed a s genius who stuck to his guns when everyone expected him to sell up. If things don’t go too well, he would look like an idiot who held out for something he was never going to get.

One certainty in all these though is the size and magnitude of technology. Technology has come a long way from being seen as making our lives easy to becoming necessary. A world where a tech start-up can, after only being around for a while have up to tens of millions of users, make millionaires of its young owners and have a future so bright it cannot be bought with billions simply shows the scale and magnitude at which tech companies are playing.

It would however pay observers well to look back to when Yahoo offered up to a billion dollars for Facebook some years back and Zuckerberg turned it down. The rest as they say is history. Zuckerberg’s Facebook has not only proved its mettle but surpassed it too.

Facebook has led the way and led it well too. It is an aspiration for upcoming tech companies like Snapchat. It is all any up and coming CEO can ever dream of. Facebook has, with the right combination of brain and determination produced an amazing cocktail of success. Many want to be like Zuckerberg and they indeed can aim as high as the young man from Silicon valley has aimed and indeed reached even though he is showing no signs of slowing down.

Olajide Jatto

 

Forbes

Business Insider

Salon

Fast Company

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