Facebook has evolved to become a titan social networking. A brainchild of Mark Zuckerberg and Eduardo Saverin, the company has grown through acquisitions and mergers to become a force to reckon with in the highly competitive field.
A user base of more than 1 billion users stems from strategic investments that Facebook has made on some of the biggest brands in the social networking space. Below are some of the biggest brands that the tech giant owns.
In a bid to strengthen its video ad tech, Facebook completed the acquisition of LiveRail to a tune of between $400 million and $500 million in 2014. The acquisition came as Facebook sought to strengthen its advertising empire, crucial to revenue generation.
LiveRail specializes in providing publishers with unique data and technology for the development of exciting video advertisement for reaching the desired target audience.
Messenger is one of Facebook’s biggest networking apps that has made the company a titan when it comes to instant messaging. With a user base of over 1 billion users, the app has strengthened the Facebook empire thanks to unique and exciting features on voice and video calling.
Messenger has also evolved to become a default form of communication for millions of people worldwide on a daily basis.
#3 Oculus VR
In the race to address users’ needs on virtual reality and augmented reality, Facebook forked out $2.3 billion to acquire Oculus VR in 2014. The virtual reality technology has since expanded the company’s footprint onto the development of virtual reality headset hardware.
The virtual reality headsets are poised to expand Facebook footprint into the multibillion-dollar gaming industry. While the tech giant is yet to reveal the actual numbers behind Oculus VR, it is clear it is on its way to dominating the virtual reality software and hardware sector.
Facebook has risen to become a juggernaut in instant messaging thanks to the $19 billion acquisition of WhatsApp. The low-cost alternative to SMS service has become a default means of communication for billions of people around the world.
With estimates placing WhatsApp revenues at close to $5 billion by 2020, underscores how important it is to Facebook’s burgeoning empire. Facebook is believed to be exploring ways of monetizing the app beyond the initial costs and regular fees.
Instagram is Facebook’s biggest brand, given the amount of users it draws on a daily basis. Acquired for $1 billion in 2012, the photo-sharing app is believed to be worth more than $100 billion, given the amount of advertising revenues it brings.
Initial estimates indicate that Instagram generates more revenues than the flagship Facebook app. Instagram transformed Facebook from a web browser service to a mobile app-based service, a move that has helped cement its edge on social networking.