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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.

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.

Zuckerberg wrote a program called "Facemash" in 2003 while attending Harvard University as a sophomore (second year student).

According to The Harvard Crimson, the site was comparable to Hot or Not and used "photos compiled from the online facebooks of nine Houses, placing two next to each other at a time and asking users to choose the “hotter” person".

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.

Microsoft's purchase included rights to place international advertisements on the social networking site.

Facebook is an American for-profit corporation and an online social media and social networking service based in Menlo Park, California.

Last modified 21-Mar-2020 08:13