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Facebook is an American social media and online social networking service founded in 2004 and owned by Meta Platforms headquartered in Menlo Park, California. It was founded by Mark Zuckerberg, along with Harvard University students and roommates Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. It is considered one of the Big Four technology companies along with Amazon, Apple and Google.

The founders initially limited Facebook membership to Harvard students and later to Columbia, Stanford, and Yale students. Membership was eventually expanded to Ivy League schools, MIT, and the remaining institutions of higher education in the Boston area, then to other universities and finally to high school students. Since 2006, anyone declaring at least 13 years of age has been allowed to register for a Facebook account, although this may vary depending on local laws. As of 2020, Facebook had 2.8 billion monthly active users, and ranked seventh in global Internet usage. This is the most downloaded mobile app of the 2010s. The name comes from facebook directories often given to American college students. Facebook held its initial public offering (IPO) in February 2012, valuing the company at $104 billion, the largest valuation to date for a newly listed public company. Facebook earns most of its revenue from ads that appear on users’ screens and in their News Feeds.

Facebook services can be accessed from devices with an Internet connection, such as personal computers, tablets and smartphones. Once registered, users can create a custom profile that reveals information about themselves. They can post text, photos, and multimedia shared with any other users who have agreed to be their “friends” or with other privacy settings publicly. Users can also use various embedded applications such as Facebook Messenger, join common interest groups, and receive notifications about the activities of their friends and pages they follow. Facebook claims to have more than 2.3 billion monthly active users as of December 2018. However, it faces a huge problem with a series of fake accounts. Facebook has caught 3 billion fake accounts, but the accounts it missed are the real problem. Many critics question whether Facebook knows how many real users it has. Facebook is one of the most valuable companies in the world.

Facebook is talked about a lot in the media, including many controversies. These are often related to user privacy (like the Cambridge Analytica data scandal), political manipulation (like the 2016 US election), mass surveillance, psychological effects like Facebook addiction and low self-esteem, and content that some users find objectionable, including fake news, conspiracy theories, hate speech and copyright infringement. Facebook also fails to remove misinformation from its pages, which brings constant controversy. Commentators claim that Facebook helps spread misinformation and fake news and exaggerates its user numbers to attract advertisers.

international shirts on social networking sites.

In October 2008, Facebook announced it would establish its international headquarters in Dublin, Ireland. Nearly a year later, in September 2009, Facebook said that it had turned cash flow positive for the first time. A January 2009 Compete.com study ranked Facebook as the most used social networking service by monthly active users worldwide. Entertainment Weekly included the site in its “best-of” list of the last decade, saying “How do we keep track of our old days, remember our co-workers’ birthdays?” , trick our friends, and play a fun game of Scrabulous using Facebook?”

Traffic to Facebook increased steadily after 2009. The company announced 500 million users in July 2010, and according to its data, half of the site’s members use Facebook daily, on average. 34 minutes on average, while 150 million users access the site using mobile phones. In November 2010, based on SecondMarket Inc. (an exchange of shares of private companies), Facebook’s value is $41 billion. The company has surpassed eBay to become the third largest American web company after Google and Amazon.com.

In early 2011, Facebook announced plans to move its headquarters to the former Sun Microsystems campus in Menlo Park, California. In March 2011, it was announced that Facebook was removing approximately 20,000 profiles per day for violations such as spam messages, graphic content and underage use, as part of efforts to increase safety. network security. DoubleClick statistics show that Facebook reached one trillion page views in June 2011, making it the most visited website by DoubleClick statistics. According to a Nielsen study, Facebook in 2011 became the second most visited website in the United States after Google.

2012–2013: IPO, lawsuits, and one-in-a-billion users
Facebook finally filed for an initial public offering on February 1, 2012. Facebook held an initial public offering on May 17, 2012, negotiating a share price of US$38. The company is valued at $104 billion, the largest valuation to date for a newly listed public company. Facebook began selling shares to the public and trading on NASDAQ on May 18, 2012. Based on 2012 earnings of $5 billion, Facebook joined the Fortune 500 list for the first time in May 2013 , ranked at position 462.

Facebook filed their S1 documents with the Securities and Exchange Commission on February 1, 2012. The company applied for a $5 billion IPO, one of the largest in public history. turmeric. The IPO raised US$16 billion, making it the third largest IPO in US history, behind Visa Inc. in 2008 and AT&T Wireless in 2000.

Shares began trading on May 18; The stock struggled to stay above its IPO price for most of the day, but set a record for trading volume for an IPO (460 million shares). The first day of trading was marred by technical glitches that prevented stock orders; only technical problems and artificial support from underwriters prevented the stock price from falling below the IPO price on the day. In March 2012, Facebook announced App Center, a storefront for applications that operates through the website. The store is available on iPhone, Android devices, and mobile web users.

On May 22, 2012, Yahoo! The financial website reports that Facebook’s lead underwriters, Morgan Stanley (MS), JP Morgan (JPM) and Goldman Sachs (GS), have cut their earnings forecasts for the company midway through the process. IPO. The stock began a free fall at this time, closing at 34.03 on May 21 and 31.00 on May 22. A trading restriction was used in an attempt to slow the decline in the stock price . Securities and Exchange Commission Chairwoman Mary Schapiro, and Financial Industry Regulatory Authority (FINRA) Chairman Rick Ketchum, have called for a review of the circumstances surrounding the IPO.

Facebook’s IPO has therefore been studied and compared to a “pump and dump” program. A class action lawsuit was filed in May 2012 for trading glitches, which resulted in corrupted orders. Lawsuits were filed, alleging that a guarantee for Morgan Stanley disclosed adjusted earnings estimates to favored clients.

Other underwriters of MS, JPM, GS, Facebook’s executives and boards, and NASDAQ also faced lawsuits after multiple lawsuits were filed, while the SEC and FINRA both brought out investigations. It is believed that the adjustment to earnings estimates was communicated to underwriters by a Facebook finance employee, who used this information to cash in their positions while leaving the public with the Expensive stocks. At the end of May 2012.

Facebook’s stock market lost more than a quarter of its initial value, leading The Wall Street Journal to label the IPO a “failure”. Zuckerberg announced to the media in early October 2012 that Facebook had surpassed one billion monthly active users. The company’s data also revealed 600 million mobile users, 219 billion photo uploads and 140 billion friend connections.

2013–2014: Website development, A4AI, and 10th anniversary
On January 15, 2013, Facebook announced Facebook Graph Search, which provides users with a “correct answer”, rather than a link to the answer by leveraging existing data on its website. Facebook emphasizes that the feature will be “privacy aware”, only returning results from content that has been shared with users. On April 3, 2013, Facebook unveiled Facebook Home, a user interface layer for Android devices that provides greater integration with the website.

On April 15, 2013, Facebook announced a 19-state alliance with the National Bar Association, to provide teens and parents with information about social media profile management tools. . On April 19, 2013, Facebook officially revised its logo to remove the light blue line at the bottom of the “F” symbol. The letter F moves closer to the edge.

Following a campaign by 100 advocacy groups, Facebook agreed to update its hate speech policy. The campaign highlighted content promoting domestic and sexual violence against women and used more than 57,000 tweets and more than 4,900 emails that prompted 15 companies to block ads from the site, including Nissan UK, House of Burlesque and Nationwide UK. The social media site initially responded by saying that “while it may be vulgar and offensive, offensive content alone does not violate our policies”. It decided to act on 29 May 2013, after “it became clear that our systems for identifying and removing hate speech were not working as effectively as we would like, especially around the issue of gender-based hostility”.

On June 12, 2013, Facebook announced on its newsroom that it had introduced clickable hashtags to help users follow trending discussions or find what others are talking about. a topic. A July 2013 Wall Street Journal article identified Facebook’s IPO as the cause of changes in US ‘national economic statistics’, as the local government area of the company’s headquarters company, San Mateo County, California, became the highest-earning county in the country after the fourth quarter of 2012. The Bureau of Labor Statistics reported that the average weekly wage in the county was $3,240, 107% higher. Compared with the last year. It notes the salary is “equivalent to $168,000 a year and 50% higher than the next highest borough, New York County (aka Manhattan), at $2,107 a week, or about $110,000 la a year.”

Facebook was blocked by the Chinese government in 2009. In September 2013, the South China Morning Post announced that it would be locked in the Shanghai Free Trade Zone to welcome foreign companies to invest and let allowing foreigners to live and work happily in a free trade zone. However, a few days later, the People’s Daily, the official newspaper of the Chinese Communist Party, denied the previous report.

Facebook was announced as a member of the Alliance for Affordable Internet (A4AI) in October 2013, when A4AI was launched. A4AI is a coalition of public and private organizations including Google, Intel and Microsoft. Led by Sir Tim Berners-Lee, A4AI seeks to make Internet access more affordable so that access is expanded in developing countries, where only 31% of people are online. Google will help reduce Internet access prices so they fall below the United Nations Broadband Commission’s global target of 5% of monthly income. A Reuters report, published on December 11, 2013, stated that Standard & Poor’s announced Facebook’s placement on the S&P 500 index “after the close of trading on December 20”. Facebook announced fourth-quarter 2013 profits of $523 million (20 cents/share), up $64 million from the previous year, as well as 945 million mobile users.

The company celebrated its 10th birthday on February 3, 2014. During the first three months of 2014, more than one billion users logged into their Facebook accounts on mobile devices. As part of the company’s second quarter results, Facebook announced in late July 2014 that mobile accounted for 62% of advertising revenue, up 21% from the previous year. By September 2014, Facebook’s market capitalization had increased to over $200 billion.

Along with other American tech figures such as Jeff Bezos and Tim Cook, Zuckerberg organized a visit to Chinese politician Lu Wei, known as the “Prince of the Internet”.

for his influence in implementing China’s online policy, at Facebook headquarters on December 8, 2014. After Zuckerberg participated in a question-and-answer session at Tsinghua University in Beijing, China, on October 23, 2014, where he attempted to converse in Mandarin – even though Facebook is banned in China, Zuckerberg is highly regarded by everyone. promote the nation’s growing business sector. A book by Chinese president Xi Jinping found on Zuckerberg’s desk attracted a lot of media attention, after the Facebook founder explained to Lu, “I want them [Facebook employees] ] understand socialism with Chinese characteristics.”

2015 – present: Combined anti-fake news and other joint ventures
As of January 21, 2015, Facebook’s algorithm is programmed to filter out false or misleading content, such as fake news stories and hoaxes, and will be given the option to flag stories by users who choose to as “fake or fraudulent news”. According to Reuters, such content is “spread like wildfire” on social media platforms. Facebook maintains that “satirical” content, intended to be humorous, or content that is clearly labeled as “satire,” should be reviewed and should not be blocked. However, the algorithm has been accused of maintain a “filter bubble” in which both material the user disagrees with and posts with low likes will also not be viewed. In November 2015, Zuckerberg extended his maternity leave with his wife from 4 weeks to 4 months.

On April 12, 2016, Zuckerberg revealed a decades-long plan for Facebook in a keynote speech. His speech outlined his vision, based on three key pillars: artificial intelligence, increased connectivity around the world, and augmented reality. In June 2016, Facebook announced Deep Text, an AI natural language processing program that will learn user intent and context in 20 languages.

In July 2016, a US$1 billion lawsuit was filed against the company claiming it allowed the Hamas group to use it to carry out attacks that ended the lives of four people. Facebook has released the blueprints of the Surround 360 camera on GitHub under an open source license. In September 2016, it won an Emmy for its visual animation “Henry”.

In October 2016, Facebook announced a paid communications tool called Workplace aimed at “connecting people” while working. Users can create profiles, see updates from colleagues on their news feed, stream live video, and participate in secure group chats. Facebook has an annual Oculus Connect conference. After the 2016 presidential election, Facebook announced it would continue to fight the spread of fake news by using fact checks from sites like FactCheck.org and the Associated Press (AP), making it easier to Make reporting easier through the community and prevent financial resources from flowing in from spammers.

On January 17, 2017, Facebook COO Sheryl Sandberg plans to open Station F, a startup incubator facility in Paris, France. Over a six-month cycle, Facebook will work with 10 to 15 data-driven startups to help them grow their businesses. On April 18, 2017, Facebook announced the beta launch of Facebook Spaces at Facebook’s annual F8 developer conference in San Francisco. Facebook Spaces, a version of Facebook’s virtual reality app for the Facebook-owned Oculus VR headset. In a virtual and shared space, users can access a curated selection of 360-degree photos and videos using their avatar, with the assistance of a controller. Users can also access their own photos and videos and any media shared on their Facebook news feed. The beta app is available now in the Oculus Store.

In September 2017, Facebook announced it would spend up to $1 billion on original shows for its Facebook Watch platform. On October 16, 2017, Facebook acquired social media app tbh for an undisclosed amount, announcing its intention to leave the app independent, similar to Instagram and WhatsApp. In May 2018, at the annual F8 developers conference in San Jose, California, Facebook announced it would launch its own dating service. Shares in the dating business partner group fell 22% after the announcement. In July 2018, Facebook was paid £500,000 by British watchdogs for failing to meet data deletion requests. On July 18, 2018, Facebook established a subsidiary named Lianshu Science & Technology in Hangzhou City, Zhejiang Province, China, with a registered capital of 30 million US dollars. All of its shares are held by the Facebook Hong Kong branch. However, the subsidiary’s registration approval was withdrawn quickly, due to irregularities.

t agreement between officials in Zhejiang province and the Cyberspace Administration of China.

On July 26, 2018, Facebook became the first company to lose more than $100 billion in shares in a single day. It fell from nearly $630 billion to $510 billion, a loss of 19%, after disappointing sales reports.

On July 27, 2018, Facebook suspended the official page of pundit and political commentator Alex Jones for 30 days. The website claims that Jones has engaged in hate speech against Robert Mueller.

On July 31, 2018, Facebook revealed that the company had removed 17 accounts related to the 2018 US elections for national, state, and local political elections. The company released a statement regarding the previous security breaches saying, “It is clear that whoever set up these accounts obscured their true identities from the Internet Research Agency.” (IRA) has been based in Russia in the past. This may be partly due to changes we have made over the past year to make this type of abuse much more difficult.”

On September 19, 2018, Facebook announced that, to distribute news outside the United States, it would work with the United States-funded democracy promotion organizations the International Republican Institute and the Democratic National Institute. National Democratic Party, which is affiliated with the Democratic and Republican parties. Through the Digital Forensic Research Lab, Facebook partners with the Atlantic Council, a think tank affiliated with NATO. They made a grant to Agência Lupa and Aos Fatos, Brazilian comptrollers, to better communicate with Facebook users during the Brazilian elections scheduled for 2018.

In November 2018, Facebook launched a brand of smart displays called Portal and Portal Plus (Portal+). The screen-enhanced smart speakers use Amazon’s Alexa (smart personal assistant service). These devices also include video chat functionality supported via Facebook Messenger.

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