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The company had slightly surpassed e Bay to become the third largest American web company after Google and
In March 2011, it was reported that Facebook was removing approximately 20,000 profiles every day for violations such as spam, graphic content, and underage use, as part of its efforts to boost cyber security. Finance website reported that Facebook's lead underwriters, Morgan Stanley (MS), JP Morgan (JPM), and Goldman Sachs (GS), cut their earnings forecasts for the company in the middle of the IPO process.
The company held its initial public offering (IPO) in February 2012, and began selling stock to the public three months later, reaching an original peak market capitalization of 4 billion, a new record.
Facebook makes most of its revenue from advertisements which appear onscreen.
Zuckerberg wrote a program called "Facemash" in 2003 while attending Harvard University as a sophomore (second year student).
According to The Harvard Crimson, the site was comparable to Hot or Not and used "photos compiled from the online facebooks of nine Houses, placing two next to each other at a time and asking users to choose the “hotter” person".
He uploaded all art images to a website, each of which was featured with a corresponding comments section, then shared the site with his classmates, and people started sharing notes.
Zuckerberg told the Crimson that "Everyone’s been talking a lot about a universal face book within Harvard.
In recent years, the company has faced intense pressure over the amount of fake news, hate speech and violence prevalent on its services, all of which it is attempting to counteract.The Facemash site was quickly forwarded to several campus group list-servers, but was shut down a few days later by the Harvard administration.Zuckerberg faced expulsion and was charged by the administration with breach of security, violating copyrights, and violating individual privacy. Zuckerberg expanded on this initial project that semester by creating a social study tool ahead of an art history final exam.Since 2006, anyone who claims to be at least 13 years old has been allowed to become a registered user of Facebook, though variations exist in the minimum age requirement, depending on applicable local laws.The Facebook name comes from the face book directories often given to United States university students.
the benefits are many." Six days after the site launched, Harvard seniors Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra accused Zuckerberg of intentionally misleading them into believing that he would help them build a social network called Harvard