Knowledge@wharton

Most industries do not begin on a single day but it’s easy to see Facebook CEO Mark Zuckerberg’s presentation on May 24 2007 as the starting gun in an entrepreneurial race that some have dubbed ”the Facebook Economy.” Zuckerberg announced that the social networking site would open to third-party developers transforming itself into a platform on which other businesses can operate. Eight months later more than 14 000 applications from third-party developers are live on Facebook including Scrabulous an online version of the word game Scrabble. But Scrabulous one of Facebook’s biggest hits may also become a victim of its own success. See acast.com/privacy for privacy and opt-out information.