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
Facebook like button button enabled, the user's web browser connects to Facebook's servers, which record which website was visited, and by what user. A week after the release of the social plugins, Facebook announced that 50,000 websites had installed the features, including the like button. Five months later, the number had increased to 2 million websites. In December 2010 and in the United States, Microsoft's Bing search engine partnered with Facebook to identify which links in search results have been "liked" by the searcher's Facebook friends. Google's social networking service Google+ utilizes a similar concept, the "+1" button. The number of "likes" on