Over the years after Facebook was launched in 2004, Facebook added many updates to the social media platform to help users in easy accessibility and helpful for various commercial purposes too. One such is Facebook Ads launched in 2007. Ads helped both businesses and Facebook in many ways. Facebook ads help businesses to reach maximum people and help with visibility on Facebook. Ads help Facebook too in earning revenues when businesses pay Facebook to run their ads. Facebook was the first social media platform to introduce ads which made Facebook top in the list of revenues as well as social media sites.

As Facebook was earning quite well and with other social media platforms rising, Mark Zuckerberg handled competitors well by making the competition as a part of the Facebook family itself. Yes, sounds amazing isn’t it? Facebook bought Instagram in 2012 and turned the threat into opportunity. The growing popularity of Instagram posed a threat to business hence Facebook bought it with 1 billion dollar. Later Facebook went on to buy WhatsApp in 2014.

The next competitor to Facebook was Snapchat which it tried to acquire in 2013 but failed because Snapchat CEO Evan Spiegel turned down the offer of 3 billion dollars. To tackle growing competition from other popular social media platforms like Snapchat, Facebook introduced stories in Instagram and Facebook. The stories format got very popular with interesting features that held an audience.

That’s what makes Facebook the king of social media platforms. The strategy that it made to turn threats into opportunity and ultimately became the king of social media platforms. Adapting to the rapid changes the social media world goes through constantly and continues to embark upon ruling the social media world with the Facebook family.

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