Facebook Mania

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CBS

For college students, the website called Facebook is a must-visit destination. Seven million college and high school students use this online student directory everyday, a phenomenon that Emily Murphy and Nadia Barbar, students at Georgetown University, describe as an addiction.

"You can entertain yourself for hours," says Barbar. "Looking at people's pictures, their interests and hobbies."

CBS News correspondent Wyatt Andrews reports the creator of Facebook, 21-year-old Mark Zuckerberg should still be in college, but he invented this — by accident. Zuckerberg was at Harvard when someone simply asked why there wasn't an online directory.

"I just threw it together one week in January, and launched it for Harvard," says Zuckerberg, who launched Facebook from his dorm room.

This website, which did not exist two years ago, is now in use at almost every four-year college in America and more than 22,000 high schools.

On Facebook students don't just post photos, they build whole profiles — online alter egos.

"They try to mark themselves as quirky, witty, or fun in ways that I wouldn't know just looking at them face-to-face," says Murphy.

Students looking at Facebook average 18 minutes a day, and that fact has rocketed the company's value into the hundreds of millions of dollars, maybe more. The reason? Advertisers, like Gene Kelsey at Panasonic, have never had this kind of reach into the college market.

"I think it's a revolutionary opportunity for marketers to be able to have these type of interaction with this market," Kelsey says.

Mark's dorm room idea could soon bring him unimagined wealth, but he manages the empire in a sweatshirt and sandals.

"The goal when we made it wasn't to move to Palo Alto and start a really sweet company," Zuckerberg says. "That just kind of happened."

Zuckerberg has also cashed in on a social revolution, where millions of Americans are displaying their lives online. On Facebook, student aren't here just to see — they're here to be seen.