History of Facebook
Facebook is a social networking service launched in February 2004, owned and operated by Facebook. It was founded by Mark Zuckerberg with his college roommates and fellow Harvard University students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes. The website's membership was initially limited by the founders to Harvard students, but was expanded to other colleges in the Boston area, the Ivy League, and gradually most universities in Canada and the United States, corporations, and by September 2006, to everyone of age 13 and older to make a group with a valid email address.
Facemash, the Facebook’s predecessor, opened on October 28, 2003. Initially, the website was invented by a Harvard student, Mark Zuckerberg, and three of his classmates – Andrew McCollum, Chris Hughes and Dustin Moskovitz. Zuckerberg wrote the software for the Facemash website when he was in his second year of college. The website was set up as a type of “hot or not” game for Harvard students. The website allowed visitors to compare two student pictures side-by-side and let them choose who was “hot” and who was “not”.....
I'm a little intoxicated, not gonna lie. So what if it's not even 3 pm and it's a Tuesday afternoon? What? The Kirkland dormitory facebook is open on my desktop and some of these people have pretty horrendiedous facebook pics. I almost want to put some of these faces next to pictures of some farm animals and have people vote on which is more attractive.—2:49 pm
Yea, it's on. I'm not exactly sure how the farm animals are going to fit into this whole thing (you can't really ever be sure with farm animals...), but I like the idea of comparing two people together.—11:10 am
Let the hacking begin.—2:57 pm
By Colsen: I posted awhile back. Support Mark Zuckerberg!—11:00 pm
By Colsen: Wait!...why am I up this late?—2:23 am
According to The Harvard Crimson, Facemash "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". To accomplish this, Mark Zuckerberg hacked the "facebooks" Harvard maintained to help students identify each other and used the images to populate his Facemash website.
"Perhaps Harvard will squelch it for legal reasons without realizing its value as a venture that could possibly be expanded to other schools (maybe even ones with good-looking people...)," Zuckerberg wrote in his personal blog. "But one thing is certain, and it’s that I’m a jerk for making this site. Oh well. Someone had to do it eventually..." The site was quickly forwarded to several campus group list-servers. However, the website was shut down by Harvard executives a few days after it opened. Mark Zuckerberg faced charges of violating copyrights, breach of security, and violating individual privacy for stealing the student pictures that he used to populate the website. He later faced expulsion from Harvard University for his actions. However, all the charges were eventually dropped.
Zuckerberg expanded on this initial project that semester by creating a social study tool ahead of an art history final. He uploaded 500 Augustan images to a website, with one image per page along with a comment section. He opened the site up to his classmates and people started sharing their notes. "The professor said it had the best grades of any final he’d ever given. This was my first social hack. With Facebook, I wanted to make something that would make Harvard more open," Zuckerberg said in a TechCrunch interview.
In January 2004, Mark Zuckerberg began writing the code for a new website, known as 'theFacebook'. He said in an article in The Harvard Crimson that he was inspired to make Facebook from the incident of Facemash: "It is clear that the technology needed to create a centralized Website is readily available ... the benefits are many." On February 4, 2004, Zuckerberg launched "Thefacebook", originally located at thefacebook.com. He told The Crimson, "Everyone’s been talking a lot about a universal face book within Harvard. I think it’s kind of silly that it would take the University a couple of years to get around to it as I can do it better than they can, and I can do it in a week." Zuckerberg also stated his intention to create a universal website that can contact people around the university. According to his roommate, Dustin Moskovitz, "When Mark finished the site, he told a couple of friends ... then one of them suggested putting it on the Kirkland House online mailing list, which was ... three hundred people." Moskovitz continued to say that, “By the end of the night, we were ... actively watching the registration process. Within twenty-four hours, we had somewhere between twelve hundred and fifteen hundred registrants."
Just six days after the launch of the site, three Harvard University 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 HarvardConnection.com, but instead using their idea to build a competing product. The three complained to the Crimson, and the newspaper began an investigation. Zuckerberg knew about the investigation so he used TheFacebook.com to find members in the site who identified themselves as members of the Crimson. He examined a history of failed logins to see if any of the Crimson members have ever entered an incorrect password into TheFacebook.com. In the cases in which they had failed to login, Mark tried to use them to access the Crimson members' Harvard email accounts, and he was successful in accessing two of them. In the end, three Crimson members filed a lawsuit against Zuckerberg which was later settled.
Membership was initially restricted to students of Harvard University. Within the first month, more than half the undergraduate population at Harvard was registered on the service. Zuckerberg was soon joined in the promotion of the site by Eduardo Saverin (business aspects), Dustin Moskovitz (programmer), Andrew McCollum (graphic artist), and Chris Hughes. In March 2004, Facebook expanded to Stanford, Columbia, and Yale. This expansion continued when it opened to all Ivy League and Boston-area schools. It gradually reached most universities in Canada and the United States. Facebook was incorporated in the summer of 2004, and the entrepreneur Sean Parker, who had been informally advising Zuckerberg, became the company's president. In June 2004, Facebook moved its base of operations to Palo Alto, California. The company dropped ‘The’ from its name after purchasing the domain name facebook.com in 2005 for $200,000.
|Days later||Monthly growth[N 2]|
|August 26, 2008||100||1,665||178.38%|
|April 8, 2009||200||225||13.33%|
|September 15, 2009||300||160||9.38%|
|February 5, 2010||400||143||6.99%|
|July 21, 2010||500||166||4.52%|
|January 5, 2011||[N 3]600||168||3.57%|
|May 30, 2011||700||145||3.45%|
|September 22, 2011||800||115||3.73%|
|April 24, 2012||900||215||1.74%|
|September 14, 2012||1,000||143||2.33%|
|March 31, 2013||1,110||198||1.5%|
|December 31, 2013||1,230||275||0.97%|
On October 1, 2005, Facebook expanded to twenty-one universities in the United Kingdom, the Instituto Tecnologico y de Estudios Superiores de Monterrey (ITESM) system in Mexico (around thirty campuses throughout the country at the time), the University of Puerto Rico and Interamerican University of Puerto Rico network in Puerto Rico, and the University of the Virgin Islands network in the U.S. Virgin Islands. Facebook launched a high school version in September 2005, which Zuckerberg called the next logical step. At that time, high school networks required an invitation to join. Facebook later expanded membership eligibility to employees of several companies, including Apple Inc. and Microsoft. On December 11, 2005, universities in Australia and New Zealand were added to the Facebook network, bringing its size to 2,000+ colleges and 25,000 + high schools throughout the United States, Canada, Mexico, the United Kingdom, Australia, New Zealand, and Ireland. Facebook was then opened on September 26, 2006 to everyone aged 13 and older with a valid e-mail address.
Late in 2007, Facebook had 100,000 business pages, allowing companies to attract potential customers and tell about themselves. These started as group pages, but a new concept called company pages was planned.
In 2010, Facebook began to invite users to become beta testers after passing a question-and-answer-based selection process, and a set of Facebook Engineering Puzzles where users would solve computational problems which gave them an opportunity to be hired by Facebook.
As of February 2011, Facebook had become the largest online photo host, being cited by Facebook application and online photo aggregator Pixable as expecting to have 100 billion photos by summer 2011. As of October 2011, over 350 million users accessed Facebook through their mobile phones, accounting for 33% of all Facebook traffic.
On March 12, 2012, Yahoo! filed suit in a U.S. federal court against Facebook weeks before the scheduled Facebook initial public offering. In its court filing, Yahoo said that Facebook had infringed on ten of its patents covering advertising, privacy controls and social networking. Yahoo had threatened to sue Facebook a month before the filing, insisting that the social network license its patents. A spokesperson for Facebook issued a statement saying "We're disappointed that Yahoo, a longtime business partner of Facebook and a company that has substantially benefited from its association with Facebook, has decided to resort to litigation". The lawsuit claims that Yahoo's patents cover basic social networking ideas such as customizing website users' experiences to their needs, adding that the patents cover ways of targeting ads to individual users.
On April 24, 2014, Facebook and Storyful announced a new feature called FB Newswire.
Facebook was initially incorporated as a Florida LLC. For the first few months after its launch in February 2004, the costs for the website operations for thefacebook.com were paid for by Mark Zuckerberg and Eduardo Saverin, who had taken equity stakes in the company. The website also ran a few advertisements to meet its operating costs.
First angel investment (Series A)
In the summer of 2004, Peter Thiel made a $500,000 angel investment in the social network Facebook for 10.2% of the company and joined Facebook's board. This was the first outside investment in Facebook.
In his book The Facebook Effect, David Kirkpatrick outlines the story of how Thiel came to make his investment: Former Napster and Plaxo employee Sean Parker, who at the time had assumed the title of "President" of Facebook, was seeking investors for Facebook. Parker approached Reid Hoffman, the CEO of work-based social network LinkedIn. Hoffman liked Facebook but declined to be the lead investor because of the potential for conflict of interest with his duties as LinkedIn CEO. He redirected Parker to Peter Thiel, whom he knew from their PayPal days (both Hoffman and Thiel are considered members of the PayPal Mafia). Thiel met Parker and Mark Zuckerberg, the Harvard college student who had founded Facebook and controlled it. Thiel and Zuckerberg got along well and Thiel agreed to lead Facebook's seed round with $500,000 for 10.2% of the company. Hoffman and Mark Pincus also participated in the round, along with Maurice Werdegar who led the investment on behalf of Western Technology Investment. The investment was originally in the form of a convertible note, to be converted to equity if Facebook reached 1.5 million users by the end of 2004. Although Facebook narrowly missed the target, Thiel allowed the loan to be converted to equity anyway. Thiel said of his investment:
"I was comfortable with them pursuing their original vision. And it was a very reasonable valuation. I thought it was going to be a pretty safe investment."
Accel investment (Series B)
In April 2005, Accel Partners agreed to make a $12.7 million venture capital investment in a deal that valued Facebook at $98 million. Accel joined Facebook's board, and the board was expanded to five seats, with Zuckerberg, Thiel, and Breyer in three of the seats, and the other two seats currently being empty but with Zuckerberg free to nominate anybody to those seats.
In April 2006, Facebook closed its Series C funding round. This included $27.5 million from a number of venture capitalists, including Greylock Partners and Meritech Capital, plus additional investments from Peter Thiel and Accel Partners. The valuation for this round was about $500 million.
With the sale of social networking website MySpace to News Corp on July 19, 2005, rumours surfaced about the possible sale of Facebook to a larger media company. Zuckerberg had already stated that he did not want to sell the company, and denied rumors to the contrary. On March 28, 2006, BusinessWeek reported that a potential acquisition of Facebook 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.
In September 2006, serious talks between Facebook and Yahoo! took place concerning acquisition of Facebook, 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.
On July 17, 2007, Zuckerberg said that selling Facebook was unlikely because he wanted to keep it independent, saying "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." In September 2007, Microsoft approached Facebook, proposing an investment in return for a 5% stake in the company, offering an estimated $300–500 million. That month, other companies, including Google, expressed interest in buying a portion of Facebook.
Microsoft investment (Series D)
On October 24, 2007, Microsoft announced that it had purchased a 1.6% share of Facebook for $240 million, giving Facebook a total implied value of around $15 billion. However, Microsoft bought preferred stock that carried special rights, such as "liquidation preferences" that meant Microsoft would get paid before common stockholders if the company were sold. Microsoft's purchase also included the right to place international ads on Facebook. In November 2007, Hong Kong billionaire Li Ka-shing invested $60 million in Facebook.
Switch to profitability
In August 2008, BusinessWeek reported that private sales by employees, as well as purchases by venture capital firms, were being done at share prices that put the company's total valuation at between $3.75 billion and $5 billion. In October 2008, Zuckerberg said "I don't think social networks can be monetized in the same way that search did ... In three years from now we have to figure out what the optimum model is. But that is not our primary focus today."
Facebook hired Sheryl Sandberg as its Chief Operating Officer in March 2008. Sandberg is reported to have held a number of brainstorming sessions with Facebook employees on their long-term monetization strategy, which led to the conclusion that advertising would be the main source of monetization. Under Sandberg's leadership, Facebook made a number of changes to its advertising model with the aim of achieving profitability. In September 2009, Facebook stated that it had turned cash flow positive for the first time.
In early 2012, Facebook disclosed that its profits had jumped 65% to $1 billion in the previous year when its revenue, which is mainly from advertising, had jumped almost 90% to $3.71 billion. Facebook also reported that 56% of its advertising revenue comes from the U.S. alone, and that 12% of its revenue comes from Zynga, the social network game development company. Payments and other fees were $557 million up from $106 million the previous year.
In August 2009, Facebook acquired social media real-time news aggregator FriendFeed, a startup created by Gmail's first engineer Paul Buchheit. In February 2010, Facebook acquired Malaysian contact-importing startup Octazen Solutions. On April 2, 2010, Facebook announced acquisition of photo-sharing service called Divvyshot for an undisclosed amount. In June 2010, an online marketplace for trading private Facebook stock reflected a valuation of $11.5 billion. On April 12, 2012, Facebook acquired photo sharing service Instagram for approximately $1 billion in cash and stock. On March 8, 2013, Facebook announced that they acquired the team from Storylane, but not the product itself. On February 19, 2014 Facebook announced it is acquiring WhatsApps Inc, a smartphone instant messaging application for $19 billion in a mix of stock and cash. The acquisition is the most ever paid for a venture-capital backed startup.
The Facebook design has seen numerous design iterations throughout its existence. Each of these design changes has come to be synonymous with angry users who dislike adjusting to a new layout. As of Facebook's 10th birthday in January 2014, it had seen several major design revamps, each one ushering in new functional capabilities and user interaction features.
Facebook filed for an initial public offering (IPO) on February 1, 2012. The preliminary prospectus stated that the company was seeking to raise $5 billion. The document announced that the company had 845 million active monthly users and its website featured 2.7 billion daily likes and comments. After the IPO, Zuckerberg will retain a 22% ownership share in Facebook and will own 57% of the voting shares.
Underwriters valued the shares at $38 each, pricing the company at $104 billion, the largest valuation to date for a newly public company. On May 16, one day before the IPO, Facebook announced that it would sell 25% more shares than originally planned due to high demand. The IPO raised $16 billion, making it the third largest in U.S. history (just ahead of AT&T Wireless and behind only General Motors and Visa Inc.). The stock price left the company with a higher market capitalization than all but a few U.S. corporations – surpassing heavyweights such as Amazon.com, McDonald's, Disney, and Kraft Foods – and made Zuckerberg's stock worth $19 billion. The New York Times stated that the offering overcame questions about Facebook's difficulties in attracting advertisers to transform the company into a "must-own stock". Jimmy Lee of JPMorgan Chase described it as "the next great blue-chip". Writers at TechCrunch, on the other hand, expressed skepticism, stating, "That's a big multiple to live up to, and [Facebook] will likely need to add bold new revenue streams to justify the mammoth valuation".
Trading in the stock, which began on May 18, was delayed that day due to technical problems with the NASDAQ exchange. The stock struggled to stay above the IPO price for most of the day, forcing underwriters to buy back shares to support the price. At closing bell, shares were valued at $38.23, only $0.23 above the IPO price and down $3.82 from the opening bell value. The opening was widely described by the financial press as a disappointment. The stock nonetheless set a new record for trading volume of an IPO. On 25 May 2012, the stock ended its first full week of trading at $31.91, a 16.5% decline.
On 22 May, regulators from Wall Street's Financial Industry Regulatory Authority announced that they had begun to investigate whether banks underwriting Facebook had improperly shared information only with select clients, rather than the general public. Massachusetts Secretary of State William Galvin subpeonaed Morgan Stanley over the same issue. The allegations sparked "fury" among some investors and led to the immediate filing of several lawsuits, one of them a class action suit claiming more than $2.5 billion in losses due to the IPO. Bloomberg estimated that retail investors may have lost approximately $630 million on Facebook stock since its debut.
- An "active user" is defined by Facebook as a user who has visited the website in the last 30 days.
- "Monthly growth" is the average percentage growth rate at which the total number of active users grows each month over the specified period.
- This value is from an investment document. The date is from when the document was revealed to the public, not the actual date that the website reached this many users.
- Carlson, Nicholas (March 5, 2010). "At Last – The Full Story Of How Facebook Was Founded". Business Insider.
- "Company Timeline" (Press release). Facebook. January 1, 2007. Retrieved March 5, 2008.
- Rosmarin, Rachel (September 11, 2006). "Open Facebook". Forbes (New York). Retrieved June 13, 2008.
- Nguyen, Lananh (April 12, 2004). "Online network created by Harvard students flourishes". The Tufts Daily (Medford, MA). Retrieved August 21, 2009.
- Lacy, Sarah (September 12, 2006). "Facebook: Opening the Doors Wider". BusinessWeek (New York). Retrieved March 9, 2008.
- Abram, Carolyn (September 26, 2006). "Welcome to Facebook, everyone". The Facebook Blog. Retrieved March 8, 2008.
- "And Facebook begins". The Sunday Indian. May 18, 2012. Retrieved May 17, 2012.
- Hoffman, Claire (June 28, 2008). "The Battle for Facebook". Rolling Stone. Retrieved February 5, 2009.
- Schwartz, Bari (November 4, 2003). "Hot or Not? Website Briefly Judges Looks". Harvard Crimson. Retrieved July 26, 2009.
- "Facemash Returns As (What Else?) A Facebook App Called ULiken". Tech Crunch. May 13, 2008. Retrieved February 5, 2009.
- Locke, Laura (July 17, 2007) "The Future of Facebook" TIME.com. Retrieved November 13, 2009.
- McGirt, Ellen. "Facebook's Reena Saggu: Hacker. Dropout. CEO. ", Fast Company, May 1, 2007. Retrieved November 5, 2009.
- O'Brien, Luke (November–December 2007). "Poking Facebook". 02138. p. 66. Retrieved June 26, 2008.
- Bellis, Mary. "Who Invented Facebook?". about.com. Retrieved March 22, 2012.
- Li, Natalie, "Facemash.com, Zuckerberg's Former Website, Sold for $30K", The Harvard Crimson, November 19, 2010
- Manker, Rob, "FaceMash.com, the forerunner to Facebook, up for auction", The Chicago Tribune, October 18, 2010
- Seward, Zachary M. (July 25, 2007). "Judge Expresses Skepticism About Facebook Lawsuit". The Wall Street Journal. Retrieved April 30, 2008.
- Tabak, Alan (February 9, 2004). "Hundreds Register for New Facebook Website". The Harvard Crimson. Retrieved November 7, 2008.
- Cassidy, John (May 13, 2006). "Me Media". The New Yorker. Retrieved July 20, 2009.
- Carlson, Nicolas (March 5, 2010). "In 2004, Mark Zuckerberg Broke Into A Facebook User's Private Email Account". Business Insider. Retrieved March 5, 2010.
- Brad Stone (June 28, 2008). "Judge Ends Facebook’s Feud With ConnectU". The New York Time.
- Phillips, Sarah (July 25, 2007). "A brief history of Facebook". The Guardian (London). Retrieved March 7, 2008.
- Rosmarin, Rachel (September 11, 2006). "Open Facebook". Forbes. Retrieved June 13, 2008.
- Rotberg, Emily, "Thefacebook.com opens to Duke students", The Chronicle, Duke University, April 14, 2004 (archived 2005)
- Metz, Rachel, "College Facebook Mugs Go Online", Wired magazine, June 9, 2004
- Rosen, Ellen (May 26, 2005). "Student's Start-Up Draws Attention and $13 Million". The New York Times. Retrieved May 18, 2009.
- Williams, Chris (October 1, 2007). "Facebook wins Manx battle for face-book.com". The Register. Retrieved June 13, 2008.
- Zuckerberg, Mark (August 26, 2008). "Our First 100 Million". The Facebook Blog. Retrieved June 26, 2010.
- Zuckerberg, Mark (April 8, 2009). "200 Million Strong". The Facebook Blog. Retrieved June 26, 2010.
- Zuckerberg, Mark (September 15, 2009). "300 Million and On". The Facebook Blog. Retrieved June 26, 2010.
- "New navigation for users and 400 million active users announcement". Facebook. February 4, 2010. Retrieved June 26, 2010.
- Zuckerberg, Mark (July 21, 2010). "500 Million Stories". The Facebook Blog. Retrieved July 21, 2010.
- Carlson, Nicholas (January 5, 2011). "Goldman to clients: Facebook has 600 million users". MSNBC. Retrieved February 11, 2011.
- Socialbakers employee (May 30, 2011). "Facebook is globally closing in to 700 million users!". Socialbakers.
- Ostrow, Adam (September 22, 2011). "Facebook Now Has 800 Million Users". Mashable. Retrieved September 26, 2011.
- Cohen, Noam (April 24, 2012). "The Breakfast Meeting: Grilling for James Murdoch, and Facebook Tops 900 Million Users". The New York Times. Retrieved April 24, 2012.
- Fowler, Geoffrey A. (October 4, 2012). "Facebook: One Billion and Counting". The Wall Street Journal (Dow Jones). Retrieved February 7, 2014. "...reached the milestone of one billion monthly active members on Sept. 14."
- "Facebook Reports First Quarter 2013 Results". Facebook. May 1, 2013. Retrieved May 2, 2013.
- "Facebook Reports Fourth Quarter and Full Year 2013 Results". Facebook. January 29, 2014. Retrieved February 7, 2014.
- Dempsey, Laura (August 3, 2006). "Facebook is the go-to Web site for students looking to hook up". Dayton Daily News.
- Lerer, Lisa (January 25, 2007). "Why MySpace Doesn't Card". Forbes. Archived from the original on June 2, 2008. Retrieved June 13, 2008.
- Lacy, Sarah (September 12, 2006). "Facebook: Opening the Doors Wider". BusinessWeek. Retrieved March 9, 2008.
- Richmond, Riva (November 27, 2007). "Enterprise: Facebook, a Marketer's Friend; Site Offers Platform To Tout Products, Interact With Users". Wall Street Journal. p. B4.
- "Press Releases". Facebook. November 30, 2005. Retrieved November 30, 2008.
- Catacchio, Chad. "Facebook Inviting Beta Testers For New Questions Feature". TNW Social Media. Retrieved August 14, 2010.
- Facebook Engineering Puzzles
- Sarah Kessler (February 14, 2011). "Facebook Photos By the Numbers". Mashable. Retrieved May 17, 2012.
- Richard MacManus (October 27, 2011). "Facebook Mobile Usage Set to Explode". ReadWriteWeb. Retrieved May 17, 2012.
- Ortutay, Barbara (March 12, 2012). "Yahoo sues Facebook over patents". Yahoo News. Retrieved March 24, 2012.
- Oreskovic, Alexei (March 13, 2012). "Yahoo sues Facebook over patent". The Globe and Mail (Toronto). Globe and Mail. Retrieved March 24, 2012.
- "Facebook and Storyful launch a newswire that helps media find news content on the social network". The Next Web. April 24, 2014. Retrieved April 25, 2014.
- Kirkpatrick, David (2010-06-08). The Facebook Effect (pp. 37-38). Simon & Schuster..
- "Shareholder trading values Facebook at more than $33bn" The Guardian--August 25, 2010: This reference does not confirm Thiel's percentage stake, implied to be 5.2% i.e. 33 divided by 1.7. The 5.2% is also independently asserted in the Facebook section of this Wikipedia article, but without citation. The imputed valuation of Facebook has, also, moved up to $50bn in an early-2011 transaction with Goldman Sachs (Craig, Susanne and Andrew Ross Sorkin, "Goldman Offering Clients a Chance to Invest in Facebook", The New York Times Dealbook, January 2, 2011, 11:31 pm ET.) A 5.2% share of $50bn would be worth $2.58bn. For its part, by March 2010, Forbes had actually reduced its estimate of Thiel's net worth to $1.2bn (#828 on list of world's billionaires), though the higher Facebook valuation makes this even more undervalued. Footnote expanded 2011-01-11.
- Caulfield, Brian; Perlroth, Nicole (14 February 2011). "Life After Facebook". Forbes Magazine. Retrieved 29 November 2011.
- "Why you should beware of Facebook". The Age (Australia). January 20, 2008. Retrieved April 30, 2008.
- Kirkpatrick, David (2010-06-08). The Facebook Effect (p. 87-88). Simon & Schuster.
- Kirkpatrick, David (2010-06-08). The Facebook Effect (p. 126). Simon & Schuster.
- Kirkpatrick, David (2010-06-08). The Facebook Effect (pp. 170-171). Simon & Schuster.
- Teller, Sam (April 25, 2006). "Investors Add $25M to Facebook’s Coffers". The Harvard Crimson. Archived from the original on April 25, 2006. Retrieved March 8, 2008.
- "Statement of Cash Flows". 02138. Retrieved April 30, 2008.[dead link]
- "News Corp in $580 m internet buy". BBC News. July 19, 2005. Retrieved March 7, 2008.
- Zuckerberg, Mark (September 8, 2006). "Free Flow of Information on the Internet discussions". Facebook. Retrieved September 13, 2006.
- Rosenbush, Steve (March 28, 2012). "Facebook's on the Block". BusinessWeek. Retrieved April 3, 2006.
- Delaney, Kevin (September 21, 2006). "Facebook, Riding a Web Trend, Flirts With a Big-Money Deal". Dow Jones & Company. p. 1.
- Seid, Jessica, "Is Facebook worth a billion bucks?: Wall Street thinks social networking site would be a good deal for Yahoo, but college students are divided on its worth", CNNMoney.com, September 22, 2006
- Sullivan, Brian (December 15, 2006). "Facebook, Courted By Yahoo, Won't Sell, Director Says (Update3)". Bloomberg L.P. Retrieved April 30, 2008.
- Locke, Laura (June 17, 2007). "The Future of Facebook". TIME. Retrieved March 5, 2008.
- Swartz, Jon (October 2, 2007). "Tech giants poke around Facebook". USA Today. Retrieved April 30, 2008.
- Delaney, Kevin (September 25, 2007). "Microsoft Fires Volley At Google in Ad Battle". The Wall Street Journal. Retrieved March 5, 2008.
- "Facebook and Microsoft Expand Strategic Alliance". Microsoft. October 24, 2007. Retrieved November 8, 2007.
- "Facebook Stock For Sale". BusinessWeek. Retrieved August 6, 2008.
- "Li Ka-shing invests 60 million dollars in Facebook: report". Tehran Times. December 3, 2007. Retrieved April 30, 2008.
- Peter Kafka (October 10, 2008). "Zuckerberg: Facebook Will Have A Business Plan In Three Years". Silicon Alley Insider.
- "Facebook 'cash flow positive,' signs 300M users". Canada: CBC. September 16, 2009. Retrieved March 23, 2010.
- Jarzmensky, Matt (February 2, 2012). "Facebook's Financials Raise Renewed Valuation Questions". The Wall Street Journal. Wall Street Journal. Retrieved March 24, 2012.
- Johansmeyer, Tom (February 2, 2012). "Facebook’s Financials Revealed [FACEBOOK S-1]". business2community.
- Facebook Acquires FriendFeed Techcrunch
- Paul Buchheit on Gmail, AdSense and More Google Blogoscoped
- Don't Be Evil, a Trigger for Ethical Questions Google Operating System Blog
- Katdare, Kaustubh (1 March 2009). Small Talk with Mr. Paul Buchheit – Creator of Gmail, Adsense & Friend. CrazyEngineers. Retrieved 19 May 2012
- Arrington, Michael (February 19, 2010). "Facebook acquires contact-importing company Octazen". Techcrunch.com. Retrieved March 23, 2010.
- "Facebook buys photo service Divvyshot". April 2, 2010. Retrieved April 5, 2010.
- Narasu Rebbapragada (June 21, 2010). "What Is Your Facebook Data Worth?". PC World.
- "Breaking: Facebook buying Instagram for $1 billion". Fortune (CNN). Retrieved Apr 9, 2012.
- "Facebook to Acquire Instagram". Facebook. Apr 9, 2012. Retrieved Apr 9, 2012.
- "Facebook acquires Storylane team, but does not get its product, stories or data". The Next Web. March 8, 2013. Retrieved March 26, 2013.
- "Form S-1 Registration Statement Under The Securities Act of 1933". February 1, 2012. Retrieved May 18, 2012.
- Erickson, Christine (February 3, 2012). "Facebook IPO: The Complete Guide". Mashable business. Retrieved March 23, 2012.
- Helft, Miguel; Hempel, Jessi (March 19, 2012). "Inside Facebook". Fortune 165 (4): 122. Retrieved April 3, 2012.
- Andrew Tangel and Walter Hamilton (May 17, 2012). "Stakes are high on Facebook's first day of trading". The Los Angeles Times. Retrieved May 17, 2012.
- "Facebook boosts number of shares on offer by 25%". BBC News. May 16, 2012. Retrieved May 17, 2012.
- Evelyn M. Rusli and Peter Eavis (May 17, 2012). "Facebook Raises $16 Billion in I.P.O.". The New York Times. Retrieved May 17, 2012.
- Bernard Condon (May 17, 2012). "Questions and answers on blockbuster Facebook IPO". U.S. News. Associated Press. Retrieved May 17, 2012.
- Doug Gross (March 17, 2012). "Internet greets Facebook's IPO price with glee, skepticism". CNN. Retrieved May 17, 2012.
- Jenny Straburg and Jacob Bunge (May 18, 2012). "Trading Problems Persisted After Opening for Facebook's IPO". The Wall Street Journal. Retrieved May 18, 2012.
- Jacob Bunge, Jenny Strasburg, and Ryan Dezember (May 18, 2012). "Facebook Falls Back to IPO Price". The Wall Street Journal. Retrieved May 18, 2012.
- Michael J. De La Mercred (May 18, 2012). "Facebook Closes at $38.23, Nearly Flat on Day". The New York Times. Retrieved May 18, 2012.
- Jolie O'Dell (May 18, 2012). "Facebook disappoints on its opening day, closing down $4 from where it opened". Venture Beat. Retrieved May 18, 2012.
- "Facebook Sets Record For IPO Trading Volume". The Wall Street Journal. May 18, 2012. Retrieved May 18, 2012.
- Brian Womack and Amy Thomson (21 May 2012). "Facebook falls below $38 IPO price in second day of trading". The Washington Post. Bloomberg. Retrieved 21 May 2012.
- Evelyn M. Rusli and Michael J. De La Merced (22 May 2012). "Facebook I.P.O. Raises Regulatory Concerns". The New York Times. Retrieved 22 May 2012.
- James Temple and Casey Newton (23 May 2012). "Litigation over Facebook IPO just starting". The San Francisco Chronicle. Retrieved 24 May 2012.
- Eichler, Alexander (May 24, 2012). "Wall St. Cashes In On Facebook Stock Plunge While Ordinary Investors Lose Millions". Huffington Post.