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 in the Philippines with 55 percent of them female. The popularity of social networking in the Philippines can be traced in the Filipinos' culture of "friends helping friends." For Filipinos, their friends and who they know can become more valuable than money, especially when what they need can be achieved through nepotism, favoritism, and friendship among others. Social networking has extensive uses in the Philippines. It was used to promote television programs like with its two profiles on Multiply. A call center company posted job openings on its Multiply community site and was able to attract recruits. The power of social networking was