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 a so-called virtual identity suicide or Web 2.0 suicide. A 2013 study in the journal "Cyberpsychology, Behavior, and Social Networking" investigated this phenomenon from the perspective of Facebook users. The number one reason for these users was privacy concerns (48%), being followed by a general dissatisfaction with the social networking website (14%), negative aspects regarding social network friends (13%) and the feeling of getting addicted to the social networking website (6%). Facebook quitters were found to be more concerned about privacy, more addicted to the Internet and more conscientious. Sites such as Facebook are becoming increasingly popular tools for methods