Social Media

Zuck adds $3B to his bank account, rethinks Facebook mission statement

zuckerberg manifesto

(BUSINESS NEWS) Zuck just plopped a cool $3B to his bottom line and is rethinking his company. What’s next?

Stocks ticking upward

Facebook founder Mark Zuckerberg isn’t just making it rain — he’s swimming in a torrential monsoon of dollar signs. Zuckerberg just added almost $3 billion to his net worth as Facebook’s shares rose, locking the social media behemoth in as Number 2 in the mobile advertising market, with Google at the top. Aftermarket trading brought Zuckerberg’s fortune to almost $59 billion, making him the 5th richest person on the Bloomberg Billionaires Index.

While Zuckerberg is rolling in the Benjamins, he’s also rocking in self-reflection.Click To Tweet

Last week he shared the founder’s letter he wrote 5 years ago, along with a hint at what’s to come: “I’m almost done writing a new letter about how I see our community and our role evolving, and I’ll share it soon,” he wrote.

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Evolving with the world

Perhaps it’s about time for a founder’s letter 2.0. Facebook’s mission statement has evolved slowly throughout the years, and understandably so, as the company itself has completely redefined the nature of social interactions across the globe.

2004:  “Thefacebook is an online directory that connects people through social networks at colleges.

2008:  “Facebook helps you connect and share with the people in your life.”

2009:  “Facebook’s mission is to give people the power to share and make the world more open and connected.”

That last one stuck, and until recently has covered all the bases of what Facebook is all about. However, in recent years, the social network’s influence has grown as explosively as its creator’s wealth — but this was all part of the plan.

Expanding the tech

After Facebook’s IPO in 2012, Zuck’s letter outlined Facebook’s purpose, comparing the platform to revolutionary technologies like the printing press and the television.

Facebook was built, according to Zuckerberg, to accomplish a social mission, to help people “once again transform many of our core institutions and industries.”

In the spirit of transformation, Facebook has lately been playing with various new media, like video and virtual reality. It’s also become one of the most influential news sources, with its massive audience of 1.79 billion users and easy sharing capability.

Value constants

Facebook was created to be constantly reinvented. As the platform has changed, its 5 core principles have held firm:

  1. Focus on impact.
  2. Move fast.
  3. Be bold.
  4. Be open.
  5. Build social value.

So how will the social media king address his ever-growing empire? What will Zuck unveil in his next founder’s letter? The public will either love it or hate it, respect it or tear it to shreds. Either way it’s sure to be dramatic, so stay tuned.

#Zuck

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