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
Facebook billion visitors per month, . SimilarWeb, Quantcast, and Compete.com all rank the website 2nd in the U.S. in traffic. The website is the most popular for uploading photos, cumulatively with 50 billion uploaded. In 2010, Sophos's "Security Threat Report 2010" polled over 500 firms, 60% of which responded that they believed Facebook was the social network that "posed the biggest threat to security", well ahead of MySpace, Twitter, and LinkedIn. Facebook is the most popular social networking site in several English-speaking countries, including Canada, the United Kingdom, and the United States. However, Facebook still receives limited adoption in countries such