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 Research Network on Youth and Participatory Politics' stating that young people who are politically active online are double as likely to vote than those who are not politically active online. Therefore, political applications of social networking sites are crucial, particularly to engage with the youth, who perhaps are the least educated in politics and the most in social networking sites. Social media is therefore a very effective way in which politicians can connect with a younger audience through their political campaigns. Crowdsourcing social media platform, such as Design Contest, Arcbazar, Tongal, combined group of professional freelancers, such as designers, and