GoldenGolden
Advanced Search
Facebook

Facebook

Facebook is a social networking platform.

Facebook was founded in 2004 by Mark Zuckerberg, Andrew McCollum, Chris Hughes, Eduardo Saverin, Rob Jagnow, Dustin Moskovitz, and Nicholas Daniel-Richards while studying at Harvard. It enables users to connect with family and friends to share pictures and written text or place ads.

History

Before founding Facebook, Mark Zuckerberg created and published a website called FaceMash in October 2003 for rating the attractiveness of students at Harvard. FaceMash quickly gained popularity reaching approximately 22,000 photo views within a few days of its launch before being shutdown. Zuckerberg was summoned to the Harvard Administrative Board and threatened to be expelled from Harvard for creating FaceMesh because he did not have permission to use student photos. The Harvard Administrative Board made the decision to let Zuckerberg continue his education at Harvard, and Zuckerberg went on to create Thefacebook in February 2004 with some of his fellow students at Harvard; Andrew McCollum, Chris Hughes, Dustin Moskovitz, Eduardo Saverin, and Nicholas Daniel-Richards.

Thefacebook was the name of the company until August 23, 2005 when the company purchased facebook.com for $200,000 and changed its name to Facebook. Other domains purchased by Facebook include FB.com for $8.5 million in November 2010 from the The American Farm Bureau Federation to give Facebook employees FB.com email addresses. The deal for FB.com also included The American Farm Bureau Federation relinquishing their rights to use FB.org.

Notable acquisitions
Instagram

On April 9, 2012 Facebook acquired Instagram, a social media company focused on sharing user photos, for $1 billion in a combination of Facebook stock and cash. At the time Facebook acquired Instagram, Instagram had approximately 30 million active users making Instagram the largest purchase ever made by Facebook in terms of both active audience size and price. Mark Zuckerberg, the CEO and co-founder of Facebook, made the following statement regarding the company's decision to purchase Instagram:

We don't plan on doing many more of these, if any at all, but providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together.
WhatsApp

In February 2014 Facebook acquired WhatsApp, a company offering a social messaging platform, for $19 billion. Facebook made the acquisition as a defensive investment after analyzing WhatsApp data and determining WhatsApp's ability to compete with Facebook. Facebook awarded 177.8 million shares of Facebook of Class A common stock, $45.9 billion in cash to the shareholders of WhatApp, and 45.9 million restricted stock units the the employees of WhatsApp. At the time of acquiring WhatsApp, the WhatsApp platform had approximately 450 million users, was gaining about 1 million users everyday, and according to OnDevice Research was the worlds most popular smartphone messaging application.

Oculus

In July 2014 Facebook announced acquiring Oculus, a company making virtual reality products, for $2 billion. Facebook paid $400 million in cash and approximately $1.6 billion in Facebook stock. Facebook also announced offering an additional $300 million in stock and cash if certain milestones are met by the company post-acquisition as performance incentives. The $2 billion acquisition price of Oculus is based on a trading price of Facebook stock at $69.35 per share. Mark Zuckerberg, the CEO and co-founder of Facebook, made the following comments regarding Facebook's decision to acquire Oculus and Facebook's plan for the company:

We’re going to focus on helping Oculus build out their product and develop partnerships to support more games. Oculus will continue operating independently within Facebook to achieve this.

Timeline

August 19, 2021
Facebook launches virtual-reality work app
June 21, 2021
Facebook launches podcasts, live audio service.
June 10, 2021
Facebook announces that Venmo-like QR codes are now launching publicly to all U.S. users, allowing anyone to send or request money through Facebook Pay.
May 5, 2021
Facebook launches Neighborhoods, a Nextdoor clone.
April 29, 2021
Facebook's monthly user base reaches 2.85 billion amid record sales.
April 19, 2021
Facebook announces a new feature that will allow users to export their Facebook posts and notes to a number of third-party services.

April 19, 2021
Facebook announces a suite of new audio products.
April 15, 2021
Facebook announces that it exceeded one of its biggest environmental goals: it slashed its greenhouse gas emissions by 94 percent in 2020.

Last year, it launched a "Climate Science Information Center" in some countries.

April 1, 2021
Facebook launches profile frames that help you encourage friends to get the Covid-19 vaccine
March 10, 2021
Facebook launches Instagram Lite in 170 lower bandwidth countries.

Page 1 of 7
...

Funding rounds

People

Name
Role
LinkedIn

Aaron Morris

Investor

Adam Gold

Investor

Adnan Khan

Investor

Agustin Gonzalez

Investor

ajtest account

Investor

Akshay Rustagi

Investor

Alex Fries

Investor

Alexander Davis

Investor

Alexander Wolfson

Investor

Ali Khan

Investor

Alin Skurtu

Investor

Alison Leigh, Ph.D, MFT, Sex Educator, Organizational Psychologist/

Advisor

Allan Kaplan

Investor

Amar Chokhawala

Investor

Amitt Mahajan

Investor

Anand Rajaraman

Investor

Andrea Zurek

Investor

Andrei Miulescu

Investor

Andrew Camel

Investor

Andrew McCollum

Founder

Andrew S. Kofman

Investor

Anida D

Investor

Anthony Lawrence

Investor

Anthony Marlowe

Investor

António Mello Campello

Investor

Page 1 of 11
...

Further reading

Title
Author
Link
Type
Date

Facebook is building brain-computer interfaces for typing and skin-hearing

Josh Constine

Web

April 19, 2017

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Adam Satariano
September 23, 2021
www.nytimes.com
Despite having one of the world's toughest laws against online hate speech and harassment, Germany has struggled to contain toxic content ahead of its Sept. 26 election.
Connor Coombe-Whitlock
September 23, 2021
Express.co.uk
FACEBOOK scammers are getting 'increasingly bolder', as fraudsters target unsuspecting victims using popular quizzes. New scams are targeting users' personal data which is left in the public domain and unfortunately, this is affecting the most selfless and vulnerable workers in Britain. A carer, based in Exeter, has shared how he was targeted while he was looking for work during the pandemic.
By BARBARA ORTUTAY
September 22, 2021
AP NEWS
Facebook's Chief Technology Officer Mike Schroepfer is stepping down from the social media company, taking on a part-time role while longtime executive Andrew Bosworth will replace him next year.
Reuters
September 23, 2021
@bsindia
Bosworth, or Boz, created Facebooks ARVR organization, which was renamed Facebook Reality Labs (FRL) in 2020
BARBARA ORTUTAY AP Technology Writer
September 22, 2021
ABC News
Facebook's Chief Technology Officer Mike Schroepfer is stepping down from the social media company, taking on a part time role while longtime executive Andrew Bosworth will replace him next year
Mike Isaac
September 22, 2021
www.nytimes.com
Mike Schroepfer, who leads the company's artificial intelligence and other technical efforts, said he planned to transition into a role as a senior fellow.
USA TODAY
September 22, 2021
USA TODAY
Facebook, YouTube and Twitter sue Texas to stop a new law cracking down on companies for censoring conservative speech. More legislation is expected.
IANS
September 22, 2021
@bsindia
According to The Markup, Facebook has been adding junk code to HTML features meant to improve accessibility for visually impaired users.
IANS
September 22, 2021
@bsindia
In suits made public Tuesday, two groups of shareholders claimed that members of Facebooks board allowed the company to overpay on its fine in order to protect Zuckerberg
AP | PTI
September 22, 2021
@bsindia
This comes after an investigation by The Wall Street Journal into the use of this internal system that has exempted high-profile users from some or all of its rules
Ryan Mac and Sheera Frenkel | NYT
September 22, 2021
@bsindia
Mark Zuckerberg, the companys chief executive officer, has signed off on an effort to show users pro-Facebook stories and to distance himself from scandals.
Ryan Mac and Sheera Frenkel
September 21, 2021
www.nytimes.com
Mark Zuckerberg, the chief executive, has signed off on an effort to show users pro-Facebook stories and to distance himself from scandals.
By The Associated Press
September 21, 2021
AP NEWS
Facebook's semi-independent oversight board says it will review the company's "XCheck," or cross check, system following an investigation by The Wall Street Journal into the use of this internal system that has exempted high-profile users from some or all of its rules.
Shira Ovide
September 21, 2021
www.nytimes.com
Facebook has been used as a tool for violence and abuse in country after country. Maybe it shouldn't be everywhere.
Brian Heater
September 21, 2021
TechCrunch
The Portal line has always been a kind of odd duck in the world of smart screens. Facebook's most significant contribution to the category is almost certainly Smart Camera, which uses AI to track a subject and pan and zoom accordingly to keep them in frame. It was the first big line to bring the [...]
Natasha Lomas
September 21, 2021
TechCrunch
New York-based Blackbird.AI has closed a $10 million Series A as it prepares to launched the next version of its disinformation intelligence platform this fall. The Series A is led by Dorilton Ventures, along with new investors including Generation Ventures, Trousdale Ventures, StartFast Ventures and Richard Clarke, former chief counter-terrorism advisor for the National Security [...]
Richard Dal Porto
September 20, 2021
TechCrunch
Hello friends and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.
Natasha Lomas
September 20, 2021
TechCrunch
Facebook's lead privacy regulator in Europe has raised concerns about a pair of 'smart' Ray-Ban sunglasses the tech giant is now selling. The glasses include a face-mounted camera which can be used to take pictures and short videos with a verbal cue. Ireland's Data Protection Commission (DPC) said Friday that it's asked the tech giant [...]
Natasha Lomas
September 20, 2021
TechCrunch
Facebook's lead privacy regulator in Europe has raised concerns about a pair of 'smart' Ray-Ban sunglasses the tech giant is now selling. The glasses include a face-mounted camera which can be used to take pictures and short videos with a verbal cue. Ireland's Data Protection Commission (DPC) said Friday that it's asked the tech giant [...]
Christia Spears Brown | The Conversation
September 20, 2021
@bsindia
Facebooks policy of pursuing profits regardless of documented harm has sparked comparisons to Big Tobacco, which knew in the 1950s that its products were carcinogenic but publicly denied it
SHOW MORE

References

Page 1 of 6
Golden logo
Text is available under the Creative Commons Attribution-ShareAlike 4.0; additional terms apply. By using this site, you agree to our Terms & Conditions.