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Additionally, users may join common-interest user groups organized by workplace, school, hobbies or other topics, and categorize their friends into lists such as "People From Work" or "Close Friends". Additionally, users can complain about or block unpleasant people.
Because of the large volume of data that users submit to the service, Facebook has come under scrutiny for its privacy policies.
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 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.
Entertainment Weekly included the site on its end-of-the-decade "best-of" list saying, "How on earth did we stalk our exes, remember our co-workers' birthdays, bug our friends, and play a rousing game of Scrabulous before Facebook?
On April 3, 2013, Facebook unveiled Facebook Home, a user-interface layer for Android devices offering greater integration with the site.
Facebook makes most of its revenue from advertisements which appear onscreen, marketing access for its customers to its users and offering highly selective advertising opportunities. 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.
On July 13, 2015, Facebook became the fastest company in the Standard & Poor's 500 Index to reach a market cap of 0 billion.
the benefits are many." Six days after 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 Harvard
They claimed that he was instead using their ideas to build a competing product.