Online Social Networking Service Company - 808 Words

0. Facebook is an online social networking service company since 2004. It was started as the online platform to be connected for ivy-league university students and later extended to general public. It has a market worth of $ 148 billion in 2014 and has more than 1 billion subscribers online. The case illustrates about the exploitation of user data by Facebook to generate revenue. The user data is used to deliver to highest bidder and earn revenue. 1. Facebook is collecting the extensive personal information from its users. The information is in the form of personal details, pictures and life events. The reason for turning the information into big databases is to serve relevant advertising that suits the taste of a particular person. But, collecting the information to generate revenue is the unethical practice in business and that is the biggest dilemma of Facebook to earn revenue without privacy damage of the users as it provides free service. The company faced various lawsuits for gathering user data without user consent. Even they keep the track of the users visiting Facebook’s widget on other websites by capturing time and IP address information. It is not sure whether the company will stop finding alternative ways to exploit data and selling it to highest bidders for advertising. The reason being the limited source of revenues and failure of management to take care of privacy concerns. 2. Facebook’s mainstream revenue is entirely dependent on advertising. In the year,Show MoreRelatedThe Power of Social Media and Its Impact on the Current Business Environment1529 Words   |  7 PagesThe Power of Social Media and its Impact on the Current Business Environment The number of internet users has increased over the last decade due to the development of new technologies, internet availability and improved connectivity. 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