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
Dolphin (social networking software) 1st Place in Tech Drive-in 5 best Open Source Social Networking Software 1st Place in Blackbox Social Media Top 7 Open Source Social Networking Applications 1st Place Recommended Software by w3update - Start Your Own Social Networking Website 2nd Place in iDate Best Dating Software & SAAS Provider 2010. In 2012, CMS Critic reviewed Dolphin and suggested it as "a good choice for those looking for social networking software". In 2009, WebResourceDeport included Dolphin in their "6 Promising And Open Source Social Networking Softwares (sic.)" post, named Dolphin as "most popular applications to create a community" Free Internet Forum Software