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 In the Egyptian revolution, Facebook and Twitter both played an allegedly pivotal role in keeping people connected to the revolt. Egyptian activists have credited social networking sites with providing a platform for planning protest and sharing news from Tahrir Square in real time. By presenting a platform for thousands of people to instantaneously share videos of mainly events featuring brutality, social networking can be a vital tool in revolutions. On the flip side, social networks enable government authorities to easily identify, and repress, protestors and dissidents. Another thing that social media helps with in political applications is getting the younger