History of Facebook investigate whether banks underwriting Facebook had improperly shared information only with select clients, rather than the general public. Massachusetts Secretary of State William Galvin subpeonaed Morgan Stanley over the same issue. The allegations sparked "fury" among some investors and led to the immediate filing of several lawsuits, one of them a class action suit claiming more than $2.5 billion in losses due to the IPO. Bloomberg estimated that retail investors may have lost approximately $630 million on Facebook stock since its debut. History of Facebook Facebook is a social networking service launched on February 4, 2004. It was founded by
Social networking service take time off from their Facebook accounts; this action is called “Facebook Fatigue” and has been common in recent years. Usage of social networking has contrubuted to a new form of bullying on social media, the communication model of interpersonal communications motives explains that a person could be embracing the motivation of escape in order to feel more powerful when the person's reality may not reflect the motivation that they are showing when they are online. According to Boyd and Ellison's (2007) article, "Why Youth (Heart) Social Network Sites: The Role of Networked Publics in Teenage Social Life", social networking