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 particularly depression. Research has shown a positive correlation between time spent on social networking sites and depressive symptoms. One possible explanation for this relationship is that people use social networking sites as a method of social comparison, which leads to social comparison bias. Adolescents who used Facebook and Instagram to compare themselves with and seek reassurance from other users experienced more depressive symptoms. It is likely, though, that the effects of social comparison on social networking sites is influenced by who people are interacting with on the sites. Specifically, Instagram users who followed a higher percentage of strangers were more