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
Privacy concerns with social networking services potential ability for stalking users on social networking sites has been noted and shared. Popular social networking sites make it easy to build a web of friends and acquaintances and share with them your photos, whereabouts, contact information, and interests without ever getting the chance to actually meet them. With the amount of information that users post about themselves online, it is easy for users to become a victim of stalking without even being aware of the risk. 63% of Facebook profiles are visible to the public, meaning if you Google someone's name and you add "+Facebook" in the search