Here are some interesting things I learnt about Facebook after reading this article.
- They bought Instagram for $1 billion (that’s 1 million stacks of $1 million) as Instagram had captured the youth market. If Facebook failed to capture the youth market, within a decade they would have died as a company.
- Facebook looks 30 years into the future when it makes its decisions.
- Facebook has a policy that is “If we don’t create the thing that kills Facebook, someone else will”
- These policies explain why they offered to buy Snapchat for $3 billion. Snapchat was the new player dominating the youth market.
- When Snapchat refused the offer Facebook went into overdrive replicating one of Snapchat’s core features and implementing it across Facebook, Instagram and What’sApp.
Wow! Talk about being strategic and playing the long game.