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
Tsū (social network) Tsū (social network) Tsū was an online social networking service launched October 21, 2014. Tsū was created by Evacuation Complete, LLC, a Texas corporation, which was founded on February 7, 2008 by Sebastian Sobczak. Evacuation Complete's founder was Sebastian Sobczak who then partnered with cofounders Drew Ginsburg and Thibault Boullenger as first employees, and the site was headquartered in New York City. Similar to Facebook in its incipient stages, tsū was open by invitation only. The website closed down in August 2016. Like Facebook, users were able to register an account, create a personal profile, add other users as friends,