Gadgetory

what started ten years ago in a Harvard dorm room with Mark Zuckerberg and a few friends has grown into this the largest social network in the world headquartered on a sprawling Silicon Valley campus employing 6,000 plus people and connecting 1.2 3 billion users worldwide despite a shaky 2012 initial public offering the stock is now trading around sixty dollars put in the estimated net worth of 29 year-old CEO Mark Zuckerberg around 30 billion dollars not bad for a college dropout whose story was made into an award-winning movie people want to go on the internet check out their friends the company has succeeded where competitors like friendster in myspace failed they were not afraid to just kind of rip everything out and rebuild you know they did that a bunch of times with these radical redesigns but constant facelifts for facebook may not be enough to retain younger users who are increasingly turning to other social media sites according to a new I strategy lab study there are three million fewer teens on Facebook than there was in 2011 not as big a deal as it used to be mostly on Instagram and snapchat and stuff like that Facebook's 1 billion dollar purchase of Instagram in 2012 hinted where the company is heading in the coming years the focus will be heavily on mobile including the creation of stand-alone apps like the new paper app the idea is to give the user an experience that they wouldn't maybe even think of as Facebook this is an original Harvard Facebook made of real paper it's filled with students photographs names of high schools and home addresses it was also the inspiration behind Mark Zuckerberg multi-billion dollar website one that he presumably hopes to attract a billion more faces in the next decade in San Francisco I'm Kara Tsuboi cnet.com for CBS News you