ENTREPRENEURSHIP

ELECTRICAL
ENGINEERING

NAME: TAIMOOR HASSAN

SAP NO: 70065347
SUBMITTED TO
MAM NOREEN AAMIR
HISTORY AND ACHIVEMENTS OF
ENTREPRENEUR
MARK ZUKERBERG
Early Life and Education
Mark Zuckerberg was born on May 14, 1984, in White Plains, New
York, and was raised in nearby Dobbs Ferry. He was born into a well-
educated family and developed an interest in computer programming at
an early age.

At the age of 12, Zuckerberg created a messaging program named

Zucknet that he implemented as an inter-office communication system
for his father's dental practice. Due to his early signs of success, his
parents got him a computer programming tutor while he was still in high
school, and they enrolled him in a prep school in New Hampshire. After
graduating from prep school, Zuckerberg enrolled at Harvard University.

Success Story
While many intelligent people attend Harvard University, Mark
Zuckerberg became known quickly as the go-to computer programmer
on campus. By his sophomore year, he had already built two programs:
Course Match and Face Mash. Both programs became wildly popular,
but the university shut down the latter program after it was deemed to be
inappropriate.

Based on his acclaim on campus, Zuckerberg partnered with friends to

create a social networking site that allowed Harvard students to connect
with each other. The site officially went live in June 2004 under the
name "The Facebook," and Zuckerberg ran it out of his dorm room.
After his sophomore year, Zuckerberg dropped out of college to pursue
what was now called Facebook, full-time. The website reached one
million users by the end of 2004.

This explosion of user growth attracted the attention of many venture

capital (VC) firms, and Zuckerberg eventually moved out to Silicon
Valley in 2005. Facebook received its first round of venture
capital investments from Accel Partners, which invested $12.7 million in
the site that was still only open to Ivy League students.

By the end of 2005, however, Facebook had opened up to students

attending other schools, causing the website to reach 5.5 million users.
Since 2005, Facebook received numerous acquisition offers from the
likes of Yahoo and Microsoft, has been through legal battles, and has
greatly increased its user base.

On Oct. 30, 2019, Facebook released Q3 earnings. The company

reported that daily active users averaged 1.62 billion for September
2019, an increase of 9% year-over-year. Monthly active users
totaled 2.45 billion, an increase of 8% year-over-year. As of Jan. 30,
2020, the company has a market cap of $598 billion. Zuckerberg owns
over 375 million Facebook shares and holds 60% of voting rights in the
company.

Net Worth and Current Influence

Mark Zuckerberg has a net worth of $78 billion as of Jan. 29, 2020.

When it comes to influence, Zuckerberg has signed the Giving Pledge,

which means he will donate at least 50% of his net worth to
philanthropic causes before he dies. In 2010, for example, he donated
more than $100 million to save the Newark school system in New
Jersey.

When his daughter Max was born, Zuckerberg and his wife Priscilla
Chan authored an open letter in which they pledged to give away 99% of
their net worth during their lifetime. However, many have criticized the
method by which Zuckerberg is donating his fortune. The charitable
foundation Zuckerberg and Chan have set up is a limited-liability
corporation, not a charitable trust. This decision allows the two to do
things that charitable trusts are not allowed to do, which in turn could
make the foundation more effective, though it might also benefit
their family more than a traditional trust.

Corporations can make for-profit investments and political donations.

Unlike charitable trusts, corporations are not required to report their
political donations.

In April 2018, Zuckerberg testified before Congress after it was revealed

that the company had shared users' data with the political consulting firm
Cambridge Analytica. Forbes has credited the quick drop of Facebook’s
stock price following the company's July warning to investors of
slowing growth and profit margins to the growing impact of the battle
between profit and privacy, citing the Cambridge Analytica story and
Facebook's growing inability to protect users from harmful misuse and
misinformation.

Achievements
Mark was known to be a programmer prodigy and developed many
computer games from a young age of 12 years. When he was still in
college, he created a program ‘Zucknet’ which connected all the
computers between the house and his father’s dental clinic. When Mark
was in high school, he also created a program that recommended music a
person liked. After his sophomore year, he got out of college to work on
Facebook full time. He became the youngest billionaire of the world at
the age of 23 in 2008.
In 2012 Facebook acquired the photo and video sharing app, Instagram
and two years later, it acquired a messaging app for mobile, WhatsApp.
Facebook along with other technological companies Samsung, Ericsson,
MediaTek, Opera Software, Nokia, and Qualcomm launched internet.org
to access selected internet services. Now, Facebook is also the 9.9%
stakeholder of Jio.
A movie named ‘A Social Network’ based on the life of Mark
Zuckerberg and his founding years of Facebook was released in 2010.
The film received eight academy award nominations. He received
several other awards like Person of the Year in 2010 by ‘Times’
Magazine, CEO of the Year in 2013 at 6th Annual Crunchies. He was
also named four consecutive times from 2009 to 2012 on Time 100 list.
Time 100 is a list of 100 most influential people in the world.
Facebook has grown leaps and bounds over the years and currently has
more than billion users. He is a highly regarded all over the world for
building the Facebook platform to revive old ties and friendships of
school.