joy of facebook by keeraagaya123

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									To accomplish this, Zuckerberg hacked into the protected areas of
Harvard's computer network and copied the houses' private dormitory ID
images. Harvard at that time did not have a student "facebook" (a
directory with photos and basic information), though individual houses
had been issuing their own paper facebooks since the mid-1980s. Facemash
attracted 450 visitors and 22,000 photo-views in its first four hours
online.[14][16]

The site was quickly forwarded to several campus group list-servers, but
was shut down a few days later by the Harvard administration. Zuckerberg
was charged by the administration with breach of security, violating
copyrights, and violating individual privacy, and faced expulsion.
Ultimately, the charges were dropped.[17] Zuckerberg expanded on this
initial project that semester by creating a social study tool ahead of an
art history final, by uploading 500 Augustan images to a website, with
one image per page along with a comment section.[16] He opened the site
up to his classmates, and people started sharing their notes.

The following semester, Zuckerberg began writing code for a new website
in January 2004. He was inspired, he said, by an editorial in The Harvard
Crimson about the Facemash incident.[18] On February 4, 2004, Zuckerberg
launched "Thefacebook", originally located at thefacebook.com.[19]

Six days after the site launched, three Harvard seniors, Cameron
Winklevoss, Tyler Winklevoss, and Divya Narendra, accused Zuckerberg of
intentionally misleading them into believing he would help them build a
social network called HarvardConnection.com, while he was instead using
their ideas to build a competing product.[20] The three complained to the
Harvard Crimson, and the newspaper began an investigation. The three
later filed a lawsuit against Zuckerberg, subsequently settling.[21]

Membership was initially restricted to students of Harvard College, and
within the first month, more than half the undergraduate population at
Harvard was registered on the service.[22] Eduardo Saverin (business
aspects), Dustin Moskovitz (programmer), Andrew McCollum (graphic
artist), and Chris Hughes soon joined Zuckerberg to help promote the
website. In March 2004, Facebook expanded to Stanford, Columbia, and
Yale.[23] It soon opened to the other Ivy League schools, Boston
University, New York University, MIT, and gradually most universities in
Canada and the United States.[24][25]

Facebook was incorporated in mid-2004, and the entrepreneur Sean Parker,
who had been informally advising Zuckerberg, became the company's
president.[26] In June 2004, Facebook moved its base of operations to
Palo Alto, California.[23] It received its first investment later that
month from PayPal co-founder Peter Thiel.[27] The company dropped The
from its name after purchasing the domain name facebook.com in 2005 for
$200,000.[28]
Total active users[N 1] Date       Users
(in millions)    Days later Monthly growth[N 2]
August 26, 2008 100[29]      1,665       178.38%
April 8, 2009    200[30]     225   13.33%
September 15, 2009     300[31]     160   9.38%
February 5, 2010 400[32]     143   6.99%
July 21, 2010    500[33]     166   4.52%
January 5, 2011 600[34][N 3]       168   3.57%
May 30, 2011     700[35]     145   3.45%
September 22, 2011     800[36]     115   3.73%
April 24, 2012   900[37]     215   1.74%

Facebook launched a high-school version in September 2005, which
Zuckerberg called the next logical step.[38] At that time, high-school
networks required an invitation to join.[39] Facebook later expanded
membership eligibility to employees of several companies, including Apple
Inc. and Microsoft.[40] Facebook was then opened on September 26, 2006,
to everyone of age 13 and older with a valid email address.[41][42]

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.[43] Microsoft's purchase included rights to place
international ads on Facebook.[44] In October 2008, Facebook announced
that it would set up its international headquarters in Dublin,
Ireland.[45] In September 2009, Facebook said that it had turned cash-
flow positive for the first time.[46] In November 2010, based on
SecondMarket Inc., an exchange for shares of privately held companies,
Facebook's value was $41 billion (slightly surpassing eBay's) and it
became the third largest U.S. Web company after Google and Amazon.[47]

Traffic to Facebook increased steadily after 2009. More people visited
Facebook than Google for the week ending March 13, 2010.[48]

In March 2011 it was reported that Facebook removes approximately 20,000
profiles from the site every day for various infractions, including spam,
inappropriate content and underage use, as part of its efforts to boost
cyber security.[49]

In early 2011, Facebook announced plans to move to its new headquarters,
the former Sun Microsystems campus in Menlo Park, California.[50][51]

Release of statistics by DoubleClick showed that Facebook reached one
trillion pageviews in the month of June 2011, making it the most visited
website in the world.[52] It should however be noted that Google and some
of its selected websites are not counted in the DoubleClick rankings.
According to the Nielsen Media Research study, released in December 2011,
Facebook is the second most accessed website in the US.[53]

In March 2012 Facebook announced App Center, an online mobile store which
sells applications that connect to Facebook. The store will be available
to iPhone, Android and mobile web users.[54] In April, Facebook bought
the application Instagram for US$1 billion.[55]

In early May of 2012, Facebook acquired social discovery start-up
Glancee.[56]

Facebook, Inc. held an initial public offering on May 17, 2012,
negotiating a share price of $38 apiece, valuing the company at $104
billion, the largest valuation to date for a newly public company.[57]
After the IPO, Zuckerberg will retain a 22% ownership share in Facebook
and will own 57% of the voting shares.[58] The IPO raised $16 billion,
making it the third largest in U.S. history.[59][60] The shares began to
be traded on May 18, and though the stock struggled to stay above the IPO
price for most of the day, it set a new record for trading volume of an
IPO.[61]
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