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 have encouraged their workers to use social networking to feel connected, educators are using it to keep connected with their students and individuals are benefiting from social networking to keep connect with already close relationships that they've developed under circumstances that would otherwise make it difficult to do so. Each social networking user is able to create a community that centers around a personal identity they choose to create online. In his book "Digital Identities: Creating and Communicating the Online Self", Rob Cover argues that social networking's foundation in Web 2.0, high-speed networking shifts online representation to one which is