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 Comments (0 ) 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

ZTE's Nubia 5S Mini impresses on...
2:50 August 20, 2014
The ZTE Nubia 5S Mini is available contract-free for $280 -- a terrific price. It offers speedy performance,...
Play video
App for beating jet lag takes...
1:03 August 20, 2014
As the summer winds down and you squeeze in that last international vacation, let tech help you bounce back...
Play video
Is the Aston Martin DP-100 a vision...
7:09 August 20, 2014
Aston Martin teamed up with Polyphony Digital to put the DP-100 Concept in to Gran Turismo 6. XCAR spoke to...
Play video
Tips to stay safe on public Wi...
2:38 August 19, 2014
When you're away from home or work, free public Wi-Fi is incredibly convenient. But you do need to protect...
Play video
Retailer spills the beans on Moto...
4:59 August 19, 2014
Best Buy leaks everything about the Moto 360 ahead of their September 4thannouncement. Android Wear gets a...
Play video
Tomorrow Daily 038: HitchBOT crosses...
24:10 August 19, 2014
On todays show, we celebrate hitchBOT's successful journey across Canada, ponder drone delivery and how it...
Play video
The Monoprice Dual Extrusion 3D...
3:57 August 19, 2014
CNET editor Dong Ngo demonstrates his expertise in 3D printing using the Monoprice Dual Extrusion and...whipped...
Play video
Sharp Aquos Crystal: A 5-inch smartphone...
1:11 August 19, 2014
Sharp's no-bezel smartphone offers premium design at an affordable price.
Play video
 

Video discussion

Conversation powered by Livefyre