As the economy expands, the demands of the people expand which cause marketing innovation to climb to new heights. In the new millennium, most companies it has become easier for companies to change as rapidly as the economy. Vertical integration, mergers, acquisitions, strategic alliances and cross-media ownership allows companies to become transnational companies.
In recent times, media corporations have a higher chance at becoming transnational companies because of the demand from the economy. Media has risen to the top and will continue to do so as long technology expands.
In July 2004, a new social media site was establishing itself in the college community. Incoming freshmen, current college students and professionals were able to make the transition from Myspace to Facebook. Facebook was a place for friends to connect and network with one another on a professional and social level. Soon Facebook opened its website to non-college students and from there the expansion began.
One of the bases for a company to be considered a transnational media corporation would have to include headquarters in an international location. In the case of Facebook, not having headquarters or a building in a foreign country does not exclude this company from being a TNMC. Even with this missing component Facebook makes up its lack of being physically present in foreign territory by meeting the other requirements of a TNMC.
Acquisitions and TNMCs are partner terms in acquiring the power needed in order to evolve into the successful company. When a company acquires (takes over) another, the acquiring company also acquires the talent, resources and personnel. In 2007, Facebook acquired Parakey. Parakey was a company that developed offline messaging applications. Facebook’s founder Zuckerberg, predicted that the acquisition of this company as a positive expansion for the company.