Facebook is the biggest and most powerful social media company in the world and to remain on top, the company has adopted a very brutal strategy to achieve that goal. Over the years we’ve seen new social media companies emerge out of nowhere to threaten that dominance of Facebook and Mark Zuckerberg. Some of the companies actually put up a really good fight. While others are just sitting there, fighting for attention and survival. In this post, TechCapon will tell you how Facebook fights of any competition that tries to challenge its dominance.
According to CNN, these are the most popular social media companies in the US, (of course China has very powerful social media companies as well but we won’t mention them here because they’re not so popular outside China or Asia)
FACEBOOK BIGGEST COMPETITORS
One thing you’ll notice is that Facebook owns 4 out of the top 10 popular social media companies. This shows that FB is the most powerful and also it knows how to crush an emerging competitor right in its track. This is how Mark Zuckerberg does it.
NUMBER ONE: BUY THE COMPANY
Facebook has spent billions and billions of dollars buying up companies that try to threaten its dominance. It’s biggest acquisitions includes Instagram and Whatsapp. Facebook bought Instagram for $1 billion and 2 years later, the company bought Whatsapp for $22 billion. At the time people don’t understand why Whatsapp was worth that much amount of money. This is an app that runs no ads whatsoever. The fact is that Whatsapp is NOT worth that money and will never make that amount of money for Facebook in terms of profit and revenue. But the thing is Zuckerberg was not interested in the money. All he wants is to get rid of a fast emerging competitor that’s coming to steal its users away. Facebook has also tried to buy up other companies like Snapchat and Twitter. The founders of those companies refused to sell. So when buying doesn’t work, that brings us to number two option.