San Francisco: Social networking giant Facebook is celebrating its 10th anniversary on Tuesday.
Created in a Harvard dorm room in 2004, it has established itself as a phenomenon, securing its place in the world of the technology giants.
Facebook chief and co-founder Mark Zuckerberg has repeatedly described Facebook`s mission as "making the world more open and connected," and some say he has accomplished just that.
"Facebook has made the world much smaller, much more interactive," said Global Equities Research analyst Trip Chowdhry.
In its short history, Facebook has become a part of daily life for more than a billion people around the globe.
"More than 20% of all time spent on the Internet is spent on Facebook," says Lou Kerner, founder of the Social Internet Fund.
Facebook says it has a global total of 1.23 billion monthly active users, including 945 million who use the social network on a mobile device.
Despite a calamitous initial public offering in 2012, the company has been on a roll for the past year, with its stock hitting record highs.
According to the research firm eMarketer, Facebook has become the second-largest recipient of digital advertising spending behind Google, and is particularly strong in mobile ads.
In an earnings call last week to discuss stellar quarterly results, Zuckerberg gave a nod to the growth seen during the past decade but focused on the future.
Zuckerberg spoke of making `apps` for showcasing Facebook features on smartphones or tablets to stay in synch with mobile Internet lifestyles.
Long-range goals included using artificial intelligence to figure out how pictures, videos, comments and more shared at Facebook are related and of shooting toward helping people share anything they want, with anyone they want, whenever they want.
The world`s biggest social network is also finding its path as a maturing company, adapting to an aging user base.
Facebook`s demographics appear to be shifting as adults, even seniors, use the network to catch up with long-lost friends and stay connected to family and colleagues.
"Facebook appears the best way to play the social Internet," Morgan Stanley analysts said in a note to clients, preferring Facebook to the up-and-coming network Twitter.