You would be surprised to know that Facebook was neither the first social media platform nor it was the best social media platform at its .It was actually a college start up made by Mark Zuckerberg and his team.time.The initial days of the social media were dominated by friendster,myspace and second Life.But the tiny Facebook team didn’t seem to care much about those giant social media platforms.
From 2005 -2008 ,my space became one of the most visited websites in the world even surpassing Google.It was owned by a company called newscorp. But after that something happened in the next four years because of which the myspace got just additional of 15 million users where as Facebook got 1 billion users .Let’s see what happened…
The reason behind the fall of the myspace and rise of Facebook was that Facebook tried to understand psychology of humans whereas myspace didn’t.For any social media company ,the most important thing is engaging the people and understanding the psychology of the people.They used the concept of the triadic closure property according to which is A knows B and B knows C,then automatically A will have inclination towards C.The same is the algorithm which facebook uses.The second drawback of myspace was that myspace was using dummy names for its users and hence people couldn’t tell who they are really chatting with but Facebook here too took advantage of this opportunity and allowed it’s users too identify itself. This strategy turned out to be Facebook’s X-factor.
The Facebook’s strategy to allow users to become friends of friends proved to be another great idea for Facebook.Now if it was only about the addition of a limited amount of features ,why couldn’t myspace crush Facebook in its initial stage itself.The reason was that myspace was bought by a company called newscorp and only cared about its own profits and losses,their protocols and procedures rather than doing any kind of innovation or something.When myspace realised it’s mistake in 2008 it was too late for it and Facebook had already taken over.
Facebook kept on looking for innovation and hence even allowed the third party users to interact with the Facebook software which meant that third party apps can directly be allowed to access the Facebook and this also helped Facebook as the third party apps now relied on Facebook rather than creating any apps like Facebook and this helped Facebook reduce its competitors further.