Facebook Inc (NASDAQ:FB) believes in open source and it has proved that the modern tech belongs to the open source. It has a plethora of open source projects that are now practically being used by other companies like Apple, Google and Netflix. Recently, its new Big Data project named Presto has been open sourced and Dropbox, Netflix and some startups are using it to figure out how they can revamp and refine their data centers.
An article on Wired said that even Apple and Google are using Facebook Inc (NASDAQ:FB)’s open source project related to the field of server deign and Cloud to improve their performance of computing. The new tool Presto is basically a combination of data storage techniques of Hadoop, SQL and other Cloud, database systems. The source said that Presto is two times faster than its previous versions and it is clearly much faster than Hadoop. Presto provides the fast and smart querying techniques to the companies. The data storage techniques are same. It’s just the way the data is picked which makes all the difference.
The source mentioned that one of the key differences between Facebook Inc (NASDAQ:FB)’s Cloud or data solutions and other company solutions is that when Facebook creates a product, it designs it for its own use rather than for selling it. Facebook Inc (NASDAQ:FB), being the largest website in the world tests the product for its own use at the highest standards. This makes other companies choose Facebook Inc (NASDAQ:FB)’s tools in for their own productivity.
Facebook Inc (NASDAQ:FB) could easily start monetizing its open source Bid Data and design tools in order to open new streams of revenue.
Ken Griffin holds 4.58 million shares worth $307.87 million of Facebook Inc. (NASDAQ:FB).