Facebook received its first investment of US$500,000 in June 2004 from PayPal co-founder Peter Thiel. This was followed a year later by $12.7 million in venture capital from Accel Partners, and then $27.5 million more from Greylock Partners. A cash flow statement was leaked, showing that during the 2005 fiscal year, Facebook had a net loss of $3.63 million. Microsoft approached Facebook in September 2007, proposing an investment in return for a 5% stake in the company. Microsoft would pay an estimated $300–500 million for the share. Microsoft announced on October 24, 2007 that it purchased a 1.6% share of Facebook for $246 million. On November 30, 2007, Hong Kong billionaire Li Ka-shing invested $60 million in Facebook.
BusinessWeek reported on March 28, 2006 that a potential acquisition of the website was under negotiation. Facebook reportedly declined an offer of $750 million from an unknown bidder, and it was rumored the asking price rose as high as $2 billion. With the sale of social networking website MySpace to News Corp on July 19, 2005, rumors surfaced about the possible sale of Facebook to a larger media company. Zuckerberg had already said he did not want to sell the company and denied rumors to the contrary. In late September, serious talks between Facebook and Yahoo! took place concerning acquisition of the social network, with prices reaching as high as $1 billion. Thiel, by then a board member of Facebook, indicated that Facebook's internal valuation was around $8 billion based on their projected revenues of $1 billion by 2015, comparable to Viacom's MTV brand, a company with a shared target demographic audience. Other companies, including Google, expressed interest in September 2007 to buy a portion of Facebook. Amid the rumors, Zuckerberg claimed that selling Facebook was unlikely because he wanted to keep it independent, stating on July 17, 2007, "We're not really looking to sell the company. We're not looking to IPO anytime soon. It's just not the core focus of the company."
Founder of Facebook
Mark Zuckerberg founded "The Facebook", originally located at thefacebook.com, in February 2004 while attending Harvard University as a sophomore. The company dropped The from its name after purchasing the domain name facebook.com in 2005 for $200,000. Membership was initially restricted to students of Harvard College, and within the first month, more than half the undergraduate population at Harvard were registered on the service. Dustin Moskovitz and Chris Hughes soon joined Zuckerberg to help promote the website. In March 2004, Facebook expanded to Stanford, Columbia, and Yale. This expansion continued when it opened to all Ivy League schools and gradually most universities in Canada and the United States. In June, Facebook moved its base of operations to Palo Alto, California.
Facebook launched a high school version in September 2005; Zuckerberg called it the next logical step. High school networks required an invitation to join. Facebook later expanded membership eligibility to employees of several companies including Apple Inc. and Microsoft. Facebook was then opened to everyone with a valid e-mail address, aside from people under the age of 13, on September 26, 2006.
BusinessWeek has confirmed that Facebook, beginning this fall, will allow its employees to sell stock at no more than a $3.75 billion valuation.
Facebook launched a high school version in September 2005; Zuckerberg called it the next logical step. High school networks required an invitation to join. Facebook later expanded membership eligibility to employees of several companies including Apple Inc. and Microsoft. Facebook was then opened to everyone with a valid e-mail address, aside from people under the age of 13, on September 26, 2006.
BusinessWeek has confirmed that Facebook, beginning this fall, will allow its employees to sell stock at no more than a $3.75 billion valuation.
Facebook is a social networking website launched on February 4, 2004. The free-access website is privately owned and operated by Facebook, Inc. Users can join networks organized by city, workplace, school, and region to connect and interact with other people. People can also add friends and send them messages, and update their personal profile to notify friends about themselves. The website's name refers to the paper facebooks depicting members of a campus community that some American colleges and preparatory schools give to incoming students, faculty, and staff as a way to get to know other people on campus.
Mark Zuckerberg founded Facebook while still a student at Harvard University. Website membership was initially limited to Harvard students, but was expanded to other colleges in the Ivy League. It later expanded further to include any university student, then high school students, and, finally, to anyone aged 13 and over. The website currently has more than 90 million active users worldwide.
Facebook has met with some controversy over the past few years. It has been blocked intermittently in several countries including Syria and Iran. It has also been banned at many places of work to increase productivity. Privacy has also been an issue, and it has been compromised several times. It is also facing several lawsuits from a number of Zuckerberg's former classmates, who claim that Facebook had stolen their source code and other intellectual property.
Mark Zuckerberg founded Facebook while still a student at Harvard University. Website membership was initially limited to Harvard students, but was expanded to other colleges in the Ivy League. It later expanded further to include any university student, then high school students, and, finally, to anyone aged 13 and over. The website currently has more than 90 million active users worldwide.
Facebook has met with some controversy over the past few years. It has been blocked intermittently in several countries including Syria and Iran. It has also been banned at many places of work to increase productivity. Privacy has also been an issue, and it has been compromised several times. It is also facing several lawsuits from a number of Zuckerberg's former classmates, who claim that Facebook had stolen their source code and other intellectual property.
Privacy Policy
We respect your privacy and we are committed to safeguarding your privacy while online at our site http://famousfacebook.blogspot.com. The following discloses the information gathering and dissemination practices for this Web site.
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Contact Information
If users have any questions or suggestions regarding our privacy policy, please contact us at: e[dot]richest[dot]man[at]gmail[dot]com
Log Files
Like most standard Web site servers we use log files. This includes internet protocol (IP) addresses, browser type, internet service provider (ISP), referring/exit pages, platform type, date/time stamp, and number of clicks to analyze trends, administer the site, track user’s movement in the aggregate, and gather broad demographic information for aggregate use. IP addresses, etc. are not linked to personally identifiable information.
Cookies
A cookie is a piece of data stored on the user’s computer tied to information about the user. Our site don’t use cookies. However, Some of our business partners use cookies on our site (for example, advertisers). However, we have no access to or control over these cookies, once we have given permission for them to set cookies for advertising. If you wish to disable cookies, you may do so through your individual browser options.
Links
This Web site contains links to other sites. Please be aware that we are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of each and every Web site that collects personally identifiable information. This privacy statement applies solely to information collected by this Web site.
Advertisers
We use outside ad companies to display ads on this site. These ads may contain cookies and/or web beacons to collect data in the ad serving process and are collected by our ad companies, and we do not have access to this information. We work with the ad companies: Google Adsense. Google, as a third party vendor, uses cookies to serve ads on this site. Google's use of the DART cookie enables it to serve ads to our users based on their visit to this site and other sites on the Internet. Users may opt out of the use of the DART cookie by visiting the Google ad and content network privacy policy. Please check their websites for respective privacy policies.
Contact Information
If users have any questions or suggestions regarding our privacy policy, please contact us at: e[dot]richest[dot]man[at]gmail[dot]com
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