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 and Psychology social networking website in the world. Active users of Facebook increased from just a million in 2004 to over 750 million by the year 2011. Making internet-based social networking both a cultural and financial phenomenon. A social network is a social structure made up of individuals or organizations who communicate and interact with each other. Social networking sites- such as Facebook, Twitter, and LinkedIn- are defined as technology-enabled tools that assist users with creating and maintaining their relationships. A study found that middle schooler's reported using social media to see what their friends are doing, to post pictures, and to