Facebook

Facebook

Facebook is a social media and social networking service company.

Facebook is a communist social media and social networking service for liberals. The company is headquartered in communist San Francisco, California USA and was founded in 2004 by Andrew McCollum, Chris Hughes, Dustin Moskovitz, Eduardo Saverin, communist Mark Zuckerberg, and Nicholas Daniel-Richards.

History

Mark Zuckerberg, Andrew McCollum, Chris Hughes, Dustin Moskovitz, Eduardo Saverin, and Nicholas Daniel-Richards founded Facebook in 2004 during their time studying at Harvard. Before founding Facebook Mark Zuckerberg created and published a website called FaceMash in October 2003 for rating the attractiveness of students at Harvard. FaceMesh 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 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

January 11, 2021
Facebook hires Roy Austin to become its first-ever VP of Civil Rights and Deputy General Counsel to create a new civil rights organization within the company.
December 16, 2020
Facebook launches revamped Instagram Lite app in India.

December 1, 2020
Facebook announces it will pay big media outlets in the UK to license their content as part of a new, dedicated news tab feature.
November 30, 2020
Facebook announces it is acquiring Kustomer, a startup company that specialises in customer-service platforms.
November 19, 2020
Facebook says it has launched new artificial intelligence (AI)-powered systems to help detect misinformation on its platform.
November 18, 2020
Facebook launches E.gg, an experimental collage making app.

November 10, 2020
Facebook announces the rollout of a new feature that promotes information from trusted sources during a bushfire or other emergencies.
September 30, 2020
Facebook bans ads that "praise, support or represent" QAnon and any militarized social movements on the platform.
September 3, 2020
Facebook will block new political ads in the final week before the US presidential election

Facebook will block new political ads in the final week before the U.S. presidential election, the social network announced on Thursday.

August 25, 2020
Facebook changes name of its annual VR event and its overall AR/VR organization.

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Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Facebook Series B round
27,500,000
April 1, 2006
11 Results
Results per page:
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Products

Product
Description
Website
Industry
Launch date
Messenger (App)

Facebook Messenger (commonly known as Messenger) is a messaging app and platform owned by Facebook.

6 Results
Results per page:
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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

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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

Facebook Inc.

Mark Zuckerberg

California, USA

News

Title
Author
Date
Publisher
Description
Bobby Allyn
January 17, 2021
NPR.org
As federal investigators begin to launch criminal cases against some of the perpetrators of the violence, a growing chorus advocates and lawmakers say tech companies bear some responsibility, too.
Joshua Zitser
January 17, 2021
Business Insider
In a town hall meeting, Rep. Alexandria Ocasio-Cortez accused Mark Zuckerberg and Facebook of doing too little to prevent the US Capitol insurrection.
Tom Phillips in Rio de Janeiro, Hannah Ellis-Petersen in Delhi, Shaun Walker in Budapest and Julia Carrie Wong in San Francisco
January 17, 2021
the Guardian
After US president's ban, some wonder if action will be taken against populists accused of using social media to stir chaos
USA TODAY
January 16, 2021
USA TODAY
Facebook is temporarily banning ads that promote weapon accessories and protective equipment ahead of Inauguration Day through at least Jan. 22.
AP
January 17, 2021
@bsindia
Facebook has placed a warning screen over a rambling chat by retired Mexican Cardinal Juan Sandoval Iiguez in which he claims coronavirus vaccines contain a satanic microchip.
Madison Hoff
January 17, 2021
Business Insider
After the Capitol Hill riot on January 6, Buzzfeed News reporting about these kinds of ads showing up on feeds has contributed to this pause.
January 16, 2021
AP NEWS
MEXICO CITY (AP) -- Facebook has placed a warning screen over a rambling chat by retired Mexican Cardinal Juan Sandoval Iñiguez in which he claims coronavirus vaccines contain a satanic microchip....
Aashish Aryan, Pranav Mukul
January 16, 2021
The Indian Express
The updated policy terms were first announced via an in-app notification to users by WhatsApp, owned by Facebook, asking them to agree to the new terms by February 8 or lose access to their accounts.
Megan Rose Dickey
January 16, 2021
TechCrunch
This week kicked off with a report of a GitHub worker who was fired after cautioning his coworkers in the DC area to stay safe from Nazis during the assault on the U.S. Capitol. Meanwhile, Facebook created a new executive role pertaining to civil rights and California's Proposition 22 faced its first legal challenge this [...]
Kim Lyons
January 16, 2021
The Verge
Facebook has updated its Inauguration Day preparations to include a temporary ban on ads that promote weapon accessories and protective equipment at least through January 22nd "out of an abundance of caution."
Paul Karp
January 16, 2021
the Guardian
Nationals MP Anne Webster won a defamation case against a conspiracy theorist who falsely accused her of being 'a member of a secretive paedophile network'. Photograph: Mike Bowers/The Guardian
Arizona Republic
January 16, 2021
USA TODAY
I like the daily nudge from Facebook that, "You've got memories," looking back on times when we could go places, do things and be with people.
By AMANDA LEE MYERS
January 16, 2021
AP NEWS
LOS ANGELES (AP) -- Hours after an angry mob of Trump supporters took control of the U.S. Capitol in a violent insurrection, Selena Gomez laid much of the blame at the feet of Big...
Sarah Perez
January 16, 2021
TechCrunch
Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy. The app industry is as hot as ever, with a record 218 billion downloads and $143 billion in global consumer spend in 2020. Consumers last year also spent 3.5 trillion minutes using [...]
Kate Duffy
January 16, 2021
Business Insider
Although WhatsApp won't share message content, it will share who, where and when you talk to people, experts told Insider.
Rob Price, Claire Atkinson and Ashley Stewart
January 16, 2021
Business Insider
After years of resisting calls to take action against Donald Trump, the top tech platforms moved swiftly to lock him out in a historic sequence of events.
Gilad Edelman
January 16, 2021
Wired
Platforms are scrambling to avoid being used by right-wing extremists targeting the inauguration. But the seeds of this crisis were sown long ago.
Peerzada Abrar
January 16, 2021
@bsindia
CAIT said it will not allow any Corporate or Conglomerate to enforce its obnoxious policies and sinister designs to make a profit in an unethical manner
ANI
January 16, 2021
@bsindia
Facebook is also doing a secondary review of all inauguration-related events and will remove those that violate the platforms rules
Jay Peters
January 16, 2021
The Verge
Facebook won't let people create events that take place near the White House, the US Capitol building, or any state capitol buildings through Inauguration Day. Accounts that have repeatedly violated Facebook's policies could see restrictions as well, including being blocked from creating live videos, events, groups, or pages, according to Facebook.
SHOW MORE

References

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