Facebook, founded in 2004, has evolved into a massive platform with over 3 billion monthly users.
It has revolutionized social networking and advertising, while facing controversies over data privacy.
Despite this, it remains a dominant force, especially for older millennials.
“I will never forget the day that I ran up to my high school’s Mac lab and signed up for Facebook,” Insider Intelligence analyst Jasmine Enberg said.
“You simultaneously felt that you were part of this small, exclusive community where your parents, grandparents and teachers weren’t – but also part of something much larger.”
“Facebook, when it launched, was revolutionary,” Enberg said.
“It’s hard to overstate the impact that Facebook has had on shaping everything from pop culture to politics to how we behave online.”
The acquisition of Instagram has helped it stay relevant, attracting younger users.
“Above all, it gives the company an app to rival Snapchat and TikTok”, which are ultra-popular with teenagers,” Enberg said.
“I go to Facebook very little, but what I post on Instagram automatically appears on Facebook too,” another analyst noted.
“So, I’m certainly counted as ‘active’ … The figures may not reflect reality.”
The platform’s expansion into virtual reality and artificial intelligence, as well as the addition of features like groups and marketplace, have contributed to its enduring appeal.
