Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Social Media

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

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

zuckerberg manifesto

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.

[clickToTweet tweet=”While Zuckerberg is rolling in the Benjamins, he’s also rocking in self-reflection.” quote=”While Zuckerberg is rolling in the Benjamins, he’s also rocking in self-reflection.”]

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.

bar

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.

Advertisement. Scroll to continue reading.

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.

Advertisement. Scroll to continue reading.

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

Written By

Helen Irias is a Staff Writer at The American Genius with a degree in English Literature from University of California, Santa Barbara. She works in marketing in Silicon Valley and hopes to one day publish a comically self-deprecating memoir that people bring up at dinner parties to make themselves sound interesting.

Click to comment

Leave a Reply

Your email address will not be published.

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Tech News

Two powerhouse companies in the social media and delivery space team up to deliver online sold goods right to the buyer's door.

Business Marketing

Facebook announced that they are shutting down their live shopping feature in a move to focus more on Reels on October 1, however, it...

Social Media

New data indicates that influencer marketing is much more lucrative on Instagram and TikTok than Facebook - where will *your* 2023 ad spend go?

Business News

Apparently, Facebook launched a podcast program almost a year ago, but it was short-lived as Zuckerberg pulls the plug 10-months in.

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.