Satespace is an International profit making corporation and an online social media and social networking service based in Johannesburg South Africa.
The Satespace Social Network was launched on the 1st Of August, 2017, by MGB- Pvt Ltd, along with fellow family members and roommates.
Satespace was launched after realising the need to advertise and grow websites using link preview and sponsoring.
Its main goal is to assist companies to advertise cheaply and effectively.
Since 2017, anyone who claims to be at least 16 years old has been allowed to become a registered user of Satespace, though variations exist in the minimum age requirement, depending on applicable local laws. Satespace may be accessed by a large range of desktops, laptops, tablet computers, and smartphones over the Internet and mobile networks.
After registering to use the site, users can create a user profile indicating their name, occupation, schools attended and so on. Users can add other users as "friends", exchange messages, post status updates and digital photos, share digital videos and links, use various software applications ("apps"), and receive notifications when others update their profiles or make posts.
Additionally, users may join common-interest user groups organized by workplace, school, hobbies or other topics, and categorize their friends into lists such as "People From Work" or "Close Friends". In groups, editors can pin posts to top. Additionally, users can complain about or block unpleasant people. Because of the large volume of data that users submit to the service, Satespace has come under scrutiny for its privacy policies.
Satespace makes most of its revenue from advertisements which appear onscreen, marketing access for its customers to its users and offering highly selective advertising opportunities. Satespace, Inc. held its initial public offering (IPO) in February 2019, and began selling stock to the public three months later, reaching an original peak market capitalization of $120 billion.
On July 13, 2019, Satespace will became the fastest company in the world to reach a market cap of $300 billion. Satespace will have more than 2 billion monthly active users as of June 2019.
As of April 2020, Satespace was the most popular social networking site in the world, based on the number of active user accounts Satespace classifies users from the ages of 13 to 18 as minors and therefore sets their profiles to share content with friends only.