Welcome to Inside Facebook and thank you for either visiting the blog or subscribing to our feed.
Why am I starting Inside Facebook? It’s simple: over the past 2 years, Facebook has become a staple of college life and a poster child for the reinvention of the social web (aka “web 2.0”).
Not only is Facebook one of the most trafficked sites on the web, but over 85% of U.S. college students have accounts with the service, spending on average a rumored 51 minutes per day on the site. 70% of students log in at least once daily–that’s a major lifestyle commitment! Facebook as a social phenomenon is now ingrained in American college culture.
From a business perspective, Facebook is every web entrepreneur’s dream. Along with MySpace, Facebook has restored credibility to consumer social software as a viable and scalable media business–all with a little PHP, some server guys, and deep knowledge of the college market. The company recently took $25 million from Greylock round after shopping itself for somewhere between $500 million and $2 billion. It’s a good time to be Mark Zuckerberg (Facebook founder and Harvard dropout), Peter Thiel (angel investor and Paypal founder), or Jim Breyer (Accel partner who led the $12 million round last year)!
I hope you find Inside Facebook valuable and enjoyable. I welcome your thoughts and comments in the weeks and months ahead. And, most important, thanks for reading!