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 by the extent of usage, number of friends, subjective social support norms, and type of relationship (online-only vs offline friends) while age has only an indirect effect. The psychological and behavioral consequences of social overload include perceptions of SNS exhaustion, low user satisfaction, and high intentions to reduce or stop using SNS. Smart phones and social networking services enable us to stay connected continuously with people around us or far away from us, which however is sometimes the root of our anxiety in social life. The eager to know what everyone was saying and the tendency to see if anyone