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
Online social movement future is private online communities. While these large networks that we encounter and use on a day-to-day basis have provided us with a productive and collaborative experience they have also increased to unmanageable sizes. To become a learning environment these groups need to be much smaller and manageable. This is where the idea and trend of private online communities could potentially be the future of online communities. Since the late 2000s, an increased use of commercial social media platforms by social movements has been reported. According to Lopes, "Social Media websites such as Facebook, Twitter, YouTube, and the various online