6
This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

CNET News Video: Facebook hits a milestone

About Video Transcript

CNET News Video: Facebook hits a milestone

2:00 /

The social network that turned the word "friend" into a verb and popularized the "like button" is turning 10 years old. As Facebook celebrates its birthday, CNET's Kara Tsuboi reports on what the company has accomplished in a decade and what CEO Mark Zuckerberg has planned for the next 10 years.

-What started 10 years ago in a Harvard dorm room with Mark Zuckerberg and a few friends has grown into this, the largest social network in the world headquartered on a sprawling Silicon Valley campus, employing 6,000 plus people and connecting 1.23 billion users worldwide. Despite a shaky 2012 initial public offering, the stock is now trading around $60, putting the estimated net worth of 29-year-old CEO Mark Zuckerberg around $30 billion. Not bad for a college dropout whose story was made into an award-winning movie. -People wanna go on the internet and check out their friends-- -The company has succeeded where competitors like Friendster and MySpace failed. -They were not afraid to just kind of rip everything out and rebuild. You know, they did that a bunch of times with these radical redesigns. -But constant facelifts for Facebook may not be enough to retain younger users who are increasingly turning to other social media sites. According to a new iStrategyLabs study, there are 3 million fewer teens on Facebook than there was in 2011. -Not as big a deal as it used to be. Mostly had an Instagram and Snapchat and stuff like that. -Facebook's $1 billion purchase of Instagram at 2012 hinted where the company is heading in the coming years. The focus will be heavily on mobile including the creation of standalone apps like the new Paper app. -The idea is to give the user an experience that they wouldn't maybe even think of as Facebook. This is an original Harvard Facebook made of real paper. It's filled with student's photographs, names of high schools, and home addresses. It was also the inspiration behind Mark Zuckerberg's multibillion dollar website, one that he presumably hopes to attract a billion more faces in the next decade. In San Francisco, I'm Kara Tsuboi, CNET.com for CBS News.
  • This is the interactive sidebar!

    Click any icon for more information as they appear--don't worry, we'll pause the video and wait for you to come back.

  • Links Polls Galleries
  • Video Review

New releases

Luxury tech gifts
2:56 November 28, 2014
The hottest tech for the fattest wallets.
Play video
The Renault Megane 275 Trophy is a Lord of the Ring
8:56 November 27, 2014
When someone dared to take the FWD lap record at the Nürburgring away from Renault, the Frenchmen fought back. The result is the Megane...
Play video
How the Samsung Galaxy Note got its pen in CNET UK podcast 412
20:16 November 27, 2014
The Samsung Galaxy Note almost came with a toothpick, we're going back to "Jurassic World", and BT has its sights on O2 -- or maybe...
Play video
Apple looks to Virtual Reality
4:55 November 26, 2014
Apple is pursuing virtual reality harder than it ever has before. The iPhone 6 can play 4K video, and the best Black Friday deals for...
Play video
Olympus E-PL7's mainstream appeal
2:24 November 26, 2014
A good interchangeable-lens series for budding enthusiasts gets better.
Play video
Tomorrow Daily 093: Underwater cities, MST3K's new website, robot security guards and more
23:17 November 26, 2014
On today's show, we discuss a Japanese design firm's plans for a futuristic underwater city, the newest way to watch your favorite...
Play video
Sparing no expense, 'Jurassic World' features Gear smartwatch
2:56 November 26, 2014
Samsung products find a way into the latest "Jurassic Park" movie, Amazon launches Local Services, and Twitter tests coupon offers...
Play video
Tablet tips for traveling with kids
2:47 November 26, 2014
Learn how to use the tech you already have to entertain your kids during a long trip.
Play video