Updating facebook status on twitter
The founders had initially limited the website's membership to Harvard students; however, later they expanded it to higher education institutions in the Boston area, the Ivy League schools, and Stanford University.Facebook gradually added support for students at various other universities, and eventually to high school students as well.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.In late 2007, Facebook had 100,000 business pages (pages which allowed companies to promote themselves and attract customers).These started as group pages, but a new concept called company pages was planned.It was believed that adjustments to earnings estimates were communicated to the underwriters by a Facebook financial officer, who used the information to cash out on their positions while leaving the general public with overpriced shares.
The Facebook name comes from the face book directories often given to United States university students.
Its popularity has led to prominent media coverage for the company, including significant scrutiny over privacy and the psychological effects it has on users.
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 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.
Facebook is an American online social media and social networking service based in Menlo Park, California.