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Subscribe to this channel for the latest updates about Facebook. Welcome to Facebook Channel on Blasting News.

Facebook is an American corporation and an online social media network based in Menlo Park, California. The Facebook website was launched on February 4, 2004, by Mark Zuckerberg and with former Harvard college students Eduardo Saverin, Andrew McCollum, Dusting Moskovitz, and Chris Hughes.

Birth of a social network

At the beginning of this venture, The founders had initially limited the website's membership to just Harvard students. As the site grew popular 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 of 2006, anyone who claims to be 13 years and older has been allowed to become a registered user on Facebook. The name Facebook comes from the face book directories often given to U.S university students.

Facebook can be accessed from multiple platforms. You can log in from desktops, laptops, tablet computers, and smartphones over the Internet including cell phone networks.

Though Facebook is no stranger to controversies and has had a run with some noteworthy events on its way to becoming an influential marketing platform, and social network. After the Facebook crew launched the site, the well-known Harvard seniors Cameron Winklevoss, Tyler Winklevoss and Divya Narendra accused the company´s founder Mark Zuckerberg of misleading them to building the social channel HarvardConnection.com. This event made its way into The Harvard Crimson university newspaper. This resulted in a lawsuit filed against Facebook, which settled in 2008 for $1.2 million shares (According to Wikipedia it was $300 million at Facebook´s initial public offering (IPO).

In late 2008, the company announced its international headquarters in Dublin Ireland. In accordance to Compete.com ranked Facebook as the most used social media networking service worldwide thanks to its monthly active users.

The company over its ten-year history acquired photo-editing app Instagram, and mobile-messaging app WhatsApp.

Facebook eventually pursued and filed its IPO on February 1, 2012. By May 12, 2012, Facebook negotiated its shares at $38 and the company was valued at $104 billion. By the following year, the company joined the exclusive Fortune 500 list for the first time in May 2013 and ranked into the 462 position.

To date, Facebook remains as the largest social media network because of the number of users. It has become a powerful marketing platform for businesses to large corporations. It has gradually developed products outside of the mobile space like the Oculus VR headset.

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