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 and stock. In November 2016 Facebook acquired CrowdTangle, a social analytics company that tracks how content spreads online. CrowdTangle confirmed the acquisition in a message on their website, but the company has not disclosed the financial terms of the deal. In early 2011, Facebook announced plans to move to its new headquarters, the former Sun Microsystems campus in Menlo Park. All users outside of the US and Canada have a contract with Facebook's Irish subsidiary "Facebook Ireland Limited". This allows Facebook to avoid US taxes for all users in Europe, Asia, Australia, Africa and South America. Facebook is making use