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
Group (online social networking) part of our social life to the internet, online social networking groups have become a way to maintain a structure in social life. Online networking is made up by clusters of people, bounding themselves together on the World Wide Web. To be able to sort out the many different clusters we belong to we use online groups to helps us arrange and make sense of all our contacts. This sense-making is rooted within us, we sort and put people into compartments or sort by categories to make sense and try to understand our relationships to the people around us. Online