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70-609: NXT was created with a total of one billion coins. On 28 September 2013, BCNext created a forum thread announcing the proposed launch of NXT as a second generation cryptocurrency and asked for small bitcoin donations to determine how to distribute the initial stake. On 18 November 2013, fundraising for NXT was closed. The initial coin offering collected 21 bitcoins that were worth US$ 17,000. In July 2016, NXT launched Smart Transaction templates, which were meant to serve as building blocks for businesses to construct Blockchain solutions for particular problems. The basic unit of account of

140-587: A US$ 1 billion suit was filed against the company alleging that it permitted Hamas to use it to perform assaults that cost the lives of four people. Facebook released its blueprints of Surround 360 camera on GitHub under an open-source license . In September, it won an Emmy for its animated short "Henry". In October, Facebook announced a fee-based communications tool called Workplace that aims to "connect everyone" at work. Users can create profiles, see updates from co-workers on their news feed, stream live videos and participate in secure group chats. Following

210-589: A 1.6% share of Facebook for $ 240 million ($ 353 million in 2023 dollars ), giving Facebook a total implied value of around $ 15 billion ($ 22 billion in 2023 dollars ). Microsoft's purchase included rights to place international advertisements. In May 2007, at the first f8 developers conference, Facebook announced the launch of the Facebook Developer Platform , providing a framework for software developers to create applications that interact with core Facebook features . By

280-697: A German social network that was alleged to be visually and functionally similar to Facebook. In October 2008, Facebook announced that its international headquarters would locate in Dublin , Ireland. A January 2009 Compete.com study ranked Facebook the most used social networking service by worldwide monthly active users . China blocked Facebook in 2009 following the Ürümqi riots . In 2009, Yuri Milner 's DST (which later split into DST Global and Mail.ru Group ), alongside Uzbek Russian metals magnate Alisher Usmanov , invested $ 200 million in Facebook when it

350-485: A PR firm that had originally been hired to monitor press coverage of the company to address concerns primarily regarding Russian meddling , then mishandling of user data by Cambridge Analytica , hate speech on Facebook, and calls for regulation. Company spokesman Tim Miller stated that a goal for tech firms should be to "have positive content pushed out about your company and negative content that's being pushed out about your competitor". Definers claimed that George Soros

420-606: A Q&A session at Tsinghua University in Beijing , China , on October 23, where he attempted to converse in Mandarin. Zuckerberg hosted visiting Chinese politician Lu Wei , known as the "Internet czar" for his influence in China's online policy, on December 8. As of 2015 , Facebook's algorithm was revised in an attempt to filter out false or misleading content, such as fake news stories and hoaxes. It relied on users who flag

490-484: A dating platform, end-to-end encryption on its platforms, and allowing users on Messenger to communicate directly with WhatsApp and Instagram users. On July 31, 2019, Facebook announced a partnership with University of California, San Francisco to build a non-invasive, wearable device that lets people type by simply imagining themselves talking. On August 13, 2019, it was revealed that Facebook had enlisted hundreds of contractors to create and obtain transcripts of

560-408: A radical Islamist imam believed to be the mastermind behind the 2019 Sri Lanka Easter bombings , preached on a pro- ISIL Facebook account, known as "Al-Ghuraba" media. On May 2, 2019, at F8, the company announced its new vision with the tagline "the future is private". A redesign of the website and mobile app was introduced, dubbed as "FB5". The event also featured plans for improving groups,

630-454: A record $ 7 billion was raised via ICO from January–June 2018. The first token sale (also known as an ICO) was held by Mastercoin in July 2013. Ethereum raised money with a token sale in 2014, raising around 31,000 BTC in July, equal to approximately $ 18.3 million at the time. ICOs and token sales became popular in 2017. There were at least 18 websites tracking ICOs before mid-year. In May,

700-455: A regulated stock exchange, tokenized IPOs. An initial stake-pool offering (ISPO), also known as an ISO, is a novel variation of an ICO for funding cryptocurrency projects. In an ISPO, users stake their cryptocurrency holdings (mostly notably ADA ) through a stake-pool operated by the cryptocurrency project. The first formal ISPO, and so far most successful, was launched on July, 1st, 2021. By October 2021 more than 35,000 participants across

770-462: A restitution offer, registration of tokens, or any disqualifications. Facebook Facebook is a social media and social networking service owned by American technology conglomerate Meta . Created in 2004 by Mark Zuckerberg with four other Harvard College students and roommates Eduardo Saverin , Andrew McCollum , Dustin Moskovitz , and Chris Hughes , its name derives from

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840-436: A share price of US$ 38 ($ 50.00 in 2023 dollars ). The company was valued at $ 104 billion ($ 138 billion in 2023 dollars ), the largest valuation to that date. The IPO raised $ 16 billion ($ 21.2 billion in 2023 dollars ), the third-largest in U.S. history, after Visa Inc. in 2008 and AT&T Wireless in 2000. Based on its 2012 income of $ 5 billion ($ 6.64 billion in 2023 dollars ), Facebook joined

910-405: A six-month cycle, Facebook committed to work with ten to 15 data-driven startups there. On April 18, Facebook announced the beta launch of Facebook Spaces at its annual F8 developer conference. Facebook Spaces is a virtual reality version of Facebook for Oculus VR goggles. In a virtual and shared space, users can access a curated selection of 360-degree photos and videos using their avatar, with

980-521: A story accordingly. Facebook maintained that satirical content should not be intercepted. The algorithm was accused of maintaining a " filter bubble ", where material the user disagrees with and posts with few likes would be deprioritized. In November, Facebook extended paternity leave from 4 weeks to 4 months. On April 12, 2016, Zuckerberg outlined his 10-year vision, which rested on three main pillars: artificial intelligence , increased global connectivity, and virtual and augmented reality . In July,

1050-849: A subsidiary named Lianshu Science & Technology in Hangzhou City , China, with $ 30 million ($ 36.4 million in 2023 dollars ) of capital. All its shares are held by Facebook Hong. Approval of the registration of the subsidiary was then withdrawn, due to a disagreement between officials in Zhejiang province and the Cyberspace Administration of China . On July 26, Facebook became the first company to lose over $ 100 billion ($ 121 billion in 2023 dollars ) worth of market capitalization in one day, dropping from nearly $ 630 billion to $ 510 billion after disappointing sales reports. On July 31, Facebook said that

1120-597: A website he shared with his classmates. A " face book " is a student directory featuring photos and personal information. In 2003, Harvard had only a paper version along with private online directories. Zuckerberg told The Harvard 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. I can do it better than they can, and I can do it in

1190-511: A week." In January 2004, Zuckerberg coded a new website, known as "TheFacebook", inspired by a Crimson editorial about Facemash, stating, "It is clear that the technology needed to create a centralized Website is readily available ... the benefits are many." Zuckerberg met with Harvard student Eduardo Saverin , and each of them agreed to invest $ 1,000 ($ 1,613 in 2023 dollars ) in the site. On February 4, 2004, Zuckerberg launched "TheFacebook", originally located at thefacebook.com. Six days after

1260-479: Is a type of funding using cryptocurrencies . It is often a form of crowdfunding , although a private ICO which does not seek public investment is also possible. In an ICO, a quantity of cryptocurrency is sold in the form of "tokens" ("coins") to speculators or investors , in exchange for legal tender or other (generally established and more stable) cryptocurrencies such as Bitcoin or Ether . The tokens are promoted as future functional units of currency if or when

1330-818: Is uncertain whether utility tokens require regulation, while it is more likely that asset-backed tokens do require regulation. This makes it complex for the issuers of cryptocurrencies to analyze which countries their tokens (or coins) can be sold into, and for the prospective purchasers of cryptocurrencies to understand which regulations, if any, should apply. The Gibraltar British Overseas Territory Financial Services Commission announced in early February 2018 that regulations are being developed to qualify "authorized sponsors" of ICOs, who are supposed to be "responsible for assuring compliance with disclosure" and compliance with "financial crimes rules". The SEC charged Maksim Zaslavskiy for fraud in September 2017 in connection with

1400-461: The 2016 U.S. presidential election , Facebook announced that it would combat fake news by using fact checkers from sites like FactCheck.org and Associated Press (AP), making reporting hoaxes easier through crowdsourcing, and disrupting financial incentives for abusers. On January 17, 2017, Facebook COO Sheryl Sandberg planned to open Station F, a startup incubator campus in Paris , France . On

1470-926: The Fortune 500 list for the first time in May 2013, ranked 462. The shares set a first-day record for trading volume of an IPO (460 million shares). The IPO was controversial given the immediate price declines that followed, and was the subject of lawsuits, while SEC and FINRA both launched investigations. Zuckerberg announced at the start of October 2012 that Facebook had one billion monthly active users, including 600 million mobile users, 219 billion photo uploads and 140 billion friend connections. On October 1, 2012, Zuckerberg visited Russian Prime Minister Dmitry Medvedev in Moscow to stimulate social media innovation in Russia and to boost Facebook's position in

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1540-603: The Huffington Post reported that Facebook's PR agency had paid someone to tweak Facebook COO Sheryl Sandberg 's Misplaced Pages page, as well as adding a page for the global head of PR, Caryn Marooney. In March 2019, the perpetrator of the Christchurch mosque shootings in New Zealand used Facebook to stream live footage of the attack as it unfolded. Facebook took 29 minutes to detect the livestreamed video, which

1610-458: The face book directories often given to American university students. Membership was initially limited to Harvard students, gradually expanding to other North American universities. Since 2006, Facebook allows everyone to register from 13 years old, except in the case of a handful of nations, where the age limit is 14 years. As of December 2022 , Facebook claimed almost 3 billion monthly active users. As of October 2023, Facebook ranked as

1680-486: The second annual f8 developers conference on July 23, 2008, the number of applications on the platform had grown to 33,000, and the number of registered developers had exceeded 400,000. The website won awards such as placement into the "Top 100 Classic Websites" by PC Magazine in 2007, and winning the "People's Voice Award" from the Webby Awards in 2008. In early 2008, Facebook became EBITDA profitable, but

1750-744: The third-most-visited website in the world , with 22.56% of its traffic coming from the United States. It was the most downloaded mobile app of the 2010s. Facebook can be accessed from devices with Internet connectivity, such as personal computers , tablets and smartphones . After registering, users can create a profile revealing personal information about themselves. They can post text, photos and multimedia which are shared with any other users who have agreed to be their friend or, with different privacy settings , publicly. Users can also communicate directly with each other with Messenger , join common-interest groups, and receive notifications on

1820-730: The Digital Forensic Research Lab Facebook partners with the Atlantic Council , a NATO -affiliated think tank. In November, Facebook launched smart displays branded Portal and Portal Plus (Portal+). They support Amazon 's Alexa (intelligent personal assistant service). The devices include video chat function with Facebook Messenger. In August 2018, a lawsuit was filed in Oakland, California claiming that Facebook created fake accounts in order to inflate its user data and appeal to advertisers in

1890-552: The ICO for a new web browser called Brave generated about $ 35 million in under 30 seconds. Messaging app developer Kik 's September 2017 ICO raised nearly $ 100 million. At the start of October 2017, ICO coin sales worth $ 2.3 billion had been conducted during the year, more than ten times as much as in all of 2016. As of November 2017, there were around 50 offerings a month, with the highest-grossing ICO as of January 2018, being Filecoin raising $ 257 million (and $ 200 million of that within

1960-472: The ICO's funding goal is met and the project successfully launches. An ICO can be a source of capital for startup companies . ICOs can allow startups to avoid regulations that prevent them from seeking investment directly from the public, and intermediaries such as venture capitalists, banks, and stock exchanges, which may demand greater scrutiny and some percentage of future profits or joint ownership. ICOs may fall outside existing regulations, depending on

2030-506: The ICOs for RECoin and DRC World. In November 2018, Zaslavskiy pleaded guilty to charges that carry a term of up to five years imprisonment. The SEC ruled that celebrity ICO endorsements must disclose the amount of any compensation paid for the endorsement. In December 2017, the SEC issued an order stating that the utility-token ICO of Munchee Inc. was classified as a security. In April 2018

2100-522: The Russian market. On January 15, 2013, Facebook announced Facebook Graph Search , which provides users with a "precise answer", rather than a link to an answer by leveraging data present on its site. Facebook emphasized that the feature would be "privacy-aware", returning results only from content already shared with the user. On April 3, 2013, Facebook unveiled Facebook Home , a user-interface layer for Android devices offering greater integration with

2170-456: The Russian platform Yandex have similar prohibitions. The UK Financial Conduct Authority has warned that ICOs are very high risk and speculative investments, are scams in some cases, and often offer no protections for investors. Even in cases of legitimate ICOs, funded projects are typically in an early and therefore high-risk stage of development. The European Securities and Markets Authority (ESMA) notes high risks associated with ICOs and

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2240-400: The SEC charged two co-founders of Centra Tech, Inc., with running a fraudulent ICO that raised more than $ 32 million in 2017. The company had drawn endorsements from celebrities including Floyd Mayweather Jr. and DJ Khaled . In September 2019, block.one agreed to settle charges related to its $ 4 billion unregistered ICO of EOS.IO for a $ 24 million penalty. The settlement did not require

2310-845: The U.S. under the Howey test . Ethereum is (as of February 2018) the leading blockchain platform for ICOs with more than 80% market share. Tokens are generally based on the Ethereum ERC-20 standard. On January 30, 2018, Facebook banned advertisements for ICOs as well as for cryptocurrencies and binary options . By April 2018, ICO advertising has been banned not only by Facebook, but by Twitter , Google , and MailChimp . Facebook changed their mind and June 26, 2018 announced to reopen for approved advertisers. Efforts are under way to deploy ICO technology to represent regulated securities, referred to as Security Token Offerings (STOs), Digital Security Offerings (DSOs), and when listed on

2380-460: The United States and Canada . In mid-2004, Napster co-founder and entrepreneur Sean Parker —an informal advisor to Zuckerberg—became company president. In June 2004, the company moved to Palo Alto, California . Sean Parker called Reid Hoffman to fund Facebook. However, Reid Hoffman was too busy launching LinkedIn so he set Facebook up with PayPal co-founder Peter Thiel , who gave Facebook its first investment later that month. In 2005,

2450-543: The acquisition of FB.com one of the ten highest domain sales in history. In February 2011, Facebook announced plans to move its headquarters to the former Sun Microsystems campus in Menlo Park, California. In March 2011, it was reported that Facebook was removing about 20,000 profiles daily for violations such as spam , graphic content and underage use, as part of its efforts to boost cyber security . Statistics showed that Facebook reached one trillion page views in

2520-687: The activities of their Facebook friends and the pages they follow. The subject of numerous controversies , Facebook has often been criticized over issues such as user privacy (as with the Cambridge Analytica data scandal ), political manipulation (as with the 2016 U.S. elections ) and mass surveillance. Facebook has also been subject to criticism over psychological effects such as addiction and low self-esteem , and various controversies over content such as fake news , conspiracy theories , copyright infringement , and hate speech . Commentators have accused Facebook of willingly facilitating

2590-414: The audio messages of users. This was especially common of Facebook Messenger, where the contractors frequently listened to and transcribed voice messages of users. After this was first reported on by Bloomberg News , Facebook released a statement confirming the report to be true, but also stated that the monitoring program was now suspended. On September 5, 2019, Facebook launched Facebook Dating in

2660-416: The company dropped "the" from its name after purchasing the domain name Facebook.com for US$ 200,000 ($ 312,012 in 2023 dollars ). The domain had belonged to AboutFace Corporation. In May 2005, Accel Partners invested $ 12.7 million ($ 19.8 million in 2023 dollars ) in Facebook, and Jim Breyer added $ 1 million ($ 1.56 million in 2023 dollars ) of his own money. A high-school version of

2730-545: The company had deleted 17 accounts related to the 2018 U.S. midterm elections . On September 19, Facebook announced that, for news distribution outside the United States, it would work with U.S. funded democracy promotion organizations, International Republican Institute and the National Democratic Institute , which are loosely affiliated with the Republican and Democratic parties. Through

2800-470: The crypto platform is a cryptocurrency, which has the designation NXT. On July 29, 2014, Danish cryptocurrency exchange service CCEDK began offering NXT to fiat money for exchange. On September 15, 2014, a tweet by one of Bitcoin's developers, Jeff Garzik has been vocal about the vulnerability of Nxt technology and the closed nature of the development process. Initial coin offering An initial coin offering ( ICO ) or initial currency offering

2870-430: The developing world. The company celebrated its 10th anniversary during the week of February 3, 2014. In January 2014, over one billion users connected via a mobile device. As of June, mobile accounted for 62% of advertising revenue, an increase of 21% from the previous year. By September Facebook's market capitalization had exceeded $ 200 billion ($ 257 billion in 2023 dollars ). Zuckerberg participated in

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2940-517: The edge of the box. Following a campaign by 100 advocacy groups, Facebook agreed to update its policy on hate speech. The campaign highlighted content promoting domestic violence and sexual violence against women and led 15 advertisers to withdraw, including Nissan UK, House of Burlesque, and Nationwide UK. The company initially stated, "while it may be vulgar and offensive, distasteful content on its own does not violate our policies". It took action on May 29. On June 12, Facebook announced that it

3010-489: The first hour of their token sale). By the end of 2017, ICOs had raised almost 40 times as much capital as they had raised in 2016, although still amounting to less than two percent of the capital raised by IPOs . ICOs are sometimes called "token sales". Amy Wan, a crowdfunding and syndication lawyer, described the coin in an ICO as "a symbol of ownership interest in an enterprise—a digital stock certificate" stating that they are likely subject to regulation as securities in

3080-471: The month of June 2011, making it the most visited website tracked by DoubleClick . According to a Nielsen study, Facebook had in 2011 become the second-most accessed website in the U.S. behind Google . In March 2012, Facebook announced App Center, a store selling applications that operate via the website. The store was to be available on iPhones , Android devices, and for mobile web users. Facebook's initial public offering came on May 17, 2012, at

3150-436: The most widely shared political content on Facebook. In May 2018 at F8 , the company announced it would offer its own dating service. Shares in competitor Match Group fell by 22%. Facebook Dating includes privacy features and friends are unable to view their friends' dating profile. In July, Facebook was charged £500,000 by UK watchdogs for failing to respond to data erasure requests. On July 18, Facebook established

3220-446: The nature of the cryptocurrency itself. There are two main types of cryptocurrencies from a regulatory perspective: utility tokens and asset-backed tokens. Utility tokens may have value because they enable the holder to exchange the token for a good or service in the future, such as Bitcoin . Asset-backed tokens may have value because there is an underlying asset which the holder of the token can attribute value to. In many countries it

3290-437: The nature of the project, or be banned altogether in some jurisdictions, such as China and South Korea . Due to the lack of regulation and enforcement of securities law, ICOs have been the vehicle for scams and fraud. Fewer than half of all ICOs survive four months after the offering, while almost half of ICOs sold in 2017 failed by February 2018. Despite their record of failure and the falling prices of cryptocurrencies,

3360-412: The need for an intermediary (such as an exchange) or to update a central record of ownership. Cryptocurrencies can be transferred easily across national and jurisdictional boundaries. This makes it difficult for central authorities to control and monitor the ownership and movement of holdings of cryptocurrencies. Countries have different approaches to how they regulate cryptocurrencies. This can depend on

3430-532: The next-highest county, New York County (better known as Manhattan ), at roughly $ 110,000 a year ($ 145,986 in 2023 dollars ). Facebook joined Alliance for Affordable Internet (A4AI) in October, as it launched. The A4AI is a coalition of public and private organizations that includes Google , Intel and Microsoft. Led by Sir Tim Berners-Lee , the A4AI seeks to make Internet access more affordable to ease access in

3500-466: The process. In January 2019, the 10-year challenge was started asking users to post a photograph of themselves from 10 years ago (2009) and a more recent photo. Criticized for its role in vaccine hesitancy , Facebook announced in March 2019 that it would provide users with "authoritative information" on the topic of vaccines. A study published in the journal Vaccine of advertisements posted in

3570-792: The risk that investors may lose all of their cash. A 2017 Wired article predicted in 2017 that the bubble was about to burst. In 2017, some investors flooded into ICOs in hopes of participating in the financial gains of similar size to those enjoyed by early Bitcoin or Ethereum speculators. Following a speculative boom in cryptocurrency prices that peaked in December 2017, regulation of cryptocurrencies has been rapidly changing. The pace of change has been driven in part by incidents of cybertheft, trading halts, and possible market manipulation . Cryptocurrencies are based on distributed ledger technologies which enable anyone to purchase or transfer their cryptocurrency holdings to any other person without

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3640-623: The scammer talks up the value of an ICO in order to generate interest and drive up the value of the coins, and then quickly "dumps" the coins for a profit. Snapchat , LinkedIn and MailChimp all have limited companies from marketing ICOs via their platforms. Jimmy Wales , founder of Misplaced Pages, stated in 2017 that "there are a lot of these initial coin offerings which in my opinion are absolute scams and people should be very wary of things that are going on in that area." Chinese internet platforms Baidu , Tencent , and Weibo have also prohibited ICO advertisements. The Japanese platform Line and

3710-565: The site launched in September 2005. Eligibility expanded to include employees of several companies, including Apple Inc. and Microsoft . In May 2006, Facebook hired its first intern, Julie Zhuo . After a month, Zhuo was hired as a full-time engineer. On September 26, 2006, Facebook opened to everyone at least 13 years old with a valid email address . By late 2007, Facebook had 100,000 pages on which companies promoted themselves. Organization pages began rolling out in May 2009. On October 24, 2007, Microsoft announced that it had purchased

3780-635: 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 HarvardConnection.com . They claimed that he was instead using their ideas to build a competing product. The three complained to the Crimson and the newspaper began an investigation. They later sued Zuckerberg, settling in 2008 for 1.2 million shares (worth $ 300 million at Facebook's IPO , or $ 398 million in 2023 dollars ). Membership

3850-489: The site. HTC announced HTC First , a phone with Home pre-loaded. On April 15, 2013, Facebook announced an alliance across 19 states with the National Association of Attorneys General, to provide teenagers and parents with information on tools to manage social networking profiles. On April 19 Facebook modified its logo to remove the faint blue line at the bottom of the "F" icon. The letter F moved closer to

3920-486: The spread of such content, as well as exaggerating its number of users to appeal to advertisers. Zuckerberg built a website called "Facemash" in 2003 while attending Harvard University . The site was comparable to Hot or Not and used "photos compiled from the online face books of nine Houses, placing two next to each other at a time and asking users to choose the 'hotter' person". Facemash attracted 450 visitors and 22,000 photo-views in its first four hours. The site

3990-444: The support of the controller. Users can access their own photos and videos, along with media shared on their newsfeed. In September, Facebook announced it would spend up to US$ 1 billion on original shows for its Facebook Watch platform. On October 16, it acquired the anonymous compliment app tbh , announcing its intention to leave the app independent. In October 2017, Facebook expanded its work with Definers Public Affairs ,

4060-462: The third year in a row. The company announced 500 million users in July 2010. Half of the site's membership used Facebook daily, for an average of 34 minutes, while 150 million users accessed the site from mobile devices. A company representative called the milestone a "quiet revolution". In October 2010 groups were introduced. In November 2010, based on SecondMarket Inc. (an exchange for privately held companies' shares), Facebook's value

4130-466: The three months prior to that found that 54% of the anti-vaccine advertisements on Facebook were placed by just two organisations funded by well-known anti-vaccination activists. The Children's Health Defense / World Mercury Project chaired by Robert F. Kennedy Jr. and Stop Mandatory Vaccination , run by campaigner Larry Cook, posted 54% of the advertisements. The ads often linked to commercial products, such as natural remedies and books. On March 14,

4200-479: The world contributed more than 600 million ADA (worth more than $ 1 billion USD in October 2021). Participants received 0.065 $ MELD / $ ADA staked / epoch while keeping full ownership of their ADA. Although ICOs can be used for fraud, they are also used for legal activities such as corporate finance and charitable fundraising. The Securities and Exchange Commission (SEC) has warned investors to beware of scammers using ICOs to execute " pump and dump " schemes, in which

4270-619: Was $ 41 billion ($ 57.3 billion in 2023 dollars ). The company had slightly surpassed eBay to become the third largest American web company after Google and Amazon.com . On November 15, 2010, Facebook announced it had acquired the domain name fb.com from the American Farm Bureau Federation for an undisclosed amount. On January 11, 2011, the Farm Bureau disclosed $ 8.5 million ($ 11.5 million in 2023 dollars ) in "domain sales income", making

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4340-457: Was eight minutes longer than it took police to arrest the gunman. About 1.3m copies of the video were blocked from Facebook but 300,000 copies were published and shared. Facebook has promised changes to its platform; spokesman Simon Dilner told Radio New Zealand that it could have done a better job. Several companies, including the ANZ and ASB banks, have stopped advertising on Facebook after the company

4410-444: Was initially restricted to students of Harvard College . Within a month, more than half the undergraduates had registered. Dustin Moskovitz , Andrew McCollum , and Chris Hughes joined Zuckerberg to help manage the growth of the website. In March 2004, Facebook expanded to Columbia , Stanford and Yale . It then became available to all Ivy League colleges, Boston University , NYU , MIT , and successively most universities in

4480-446: Was introducing clickable hashtags to help users follow trending discussions, or search what others are talking about on a topic. San Mateo County , California, became the top wage-earning county in the country after the fourth quarter of 2012 because of Facebook. The Bureau of Labor Statistics reported that the average salary was 107% higher than the previous year, at $ 168,000 a year ($ 222,961 in 2023 dollars ), more than 50% higher than

4550-407: Was not cash flow positive yet. On July 20, 2008, Facebook introduced "Facebook Beta", a significant redesign of its user interface on selected networks. The Mini-Feed and Wall were consolidated, profiles were separated into tabbed sections, and an effort was made to create a cleaner look. Facebook began migrating users to the new version in September 2008. In July 2008, Facebook sued StudiVZ ,

4620-495: Was reportedly unaware at the time. In May 2009, Zuckerberg said of the $ 200 million Russian investment, "This investment is purely buffer for us. It is not something we needed to get to cash flow positive." In September 2009, Facebook became cash flow positive ahead of schedule after closing a roughly $ 200 million gap in operating profitability. In 2010, Facebook won the Crunchie "Best Overall Startup Or Product" award for

4690-421: Was sent to several campus group listservs , but was shut down a few days later by Harvard administration. Zuckerberg faced expulsion and was charged with breaching security, violating copyrights and violating individual privacy. Ultimately, the charges were dropped. Zuckerberg expanded on this project that semester by creating a social study tool. He uploaded art images, each accompanied by a comments section, to

4760-453: Was the force behind what appeared to be a broad anti-Facebook movement, and created other negative media, along with America Rising , that was picked up by larger media organisations like Breitbart News . Facebook cut ties with the agency in late 2018, following public outcry over their association. Posts originating from the Facebook page of Breitbart News , a media organization previously affiliated with Cambridge Analytica, were among

4830-646: Was valued at $ 10 billion. A separate stake was also acquired by Usmanov's USM Holdings on another occasion. According to the New York Times in 2013, "Mr. Usmanov and other Russian investors at one point owned nearly 10 percent of Facebook, though precise details of their ownership stakes are difficult to assess." It was later revealed in 2017 by the Paradise Papers that lending by Russian state-backed VTB Bank and Gazprom 's investment vehicle partially financed these 2009 investments, although Milner

4900-618: Was widely condemned by the public. Following the attack, Facebook began blocking white nationalist , white supremacist , and white separatist content, saying that they could not be meaningfully separated. Previously, Facebook had only blocked overtly supremacist content. The older policy had been condemned by civil rights groups, who described these movements as functionally indistinct. Further bans were made in mid-April 2019, banning several British far-right organizations and associated individuals from Facebook, and also banning praise or support for them. NTJ 's member Moulavi Zahran Hashim,

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