Facebook is no doubt one of the biggest corporations of the world right now. It has been running successfully for more than a decade, and despite the ever-changing landscape of technology and its usage, it has managed to adapt and evolve with the times, not only as a product, but also as a company.
At the moment, Facebook Inc. Owns some of the world’s most popular mobile apps aka WhatsApp, and Instagram. Collectively, these applications have over 500 million users worldwide, nearly half of all internet users around the world.
China’s Tencent Inc. Is the biggest competition for Facebook, and unlikely to be eliminated anytime soon, since China has its own social media networks, and does not plan on expanding any time soon. Despite this obstacle, Facebook Inc. Has managed to keep afloat, beating out other tech giants and business corporations in the application market.
Apps such as and Reddit, which are also very popular, have been gaining traction, and in the last decade alone, social media apps have overtaken the entertainment industry as well changed how the world communicates, essentially.
If things stay the same, Facebook should have no issues staying at the top of the Social Media industry and evolving as the times change.