The threecomplained to the
, and the newspaper began an investigation. The three later filed a lawsuit againstZuckerberg, subsequently settling.
Membership was initially restricted to students of Harvard College,and within the first month, more than half the
undergraduate population at Harvard was registered on the service.
Facebookincorporatedin the summer of 2004, and the entrepreneur Sean Parker , who had been informally advising
Zuckerberg, became the company's president.
from its name after purchasing thedomain namefacebook.com in 2005 for $200,000.
Total active users
DateUsersDays laterMonthly growth
August 26, 2008100
1,665178.38%April 8, 2009200
22513.33%September 15, 2009300
15010%February 5, 2010400
1436.99%July 21, 2010500
1664.52%January 5, 2011600
1683.57% —70049 (ongoing)—
Facebook launched a high school version in September 2005, which Zuckerberg called the next logical step.
Atthat time, high school networks required an invitation to join.
Facebook later expanded membership eligibility toemployees of several companies, including Apple Inc. and Microsoft.
Facebook was then opened on September 26, 2006, to everyone of ages 13 and older with a valid email address.
On October 24, 2007, Microsoft announced that it had purchased a 1.6% share of Facebook for $240 million, givingFacebook a total implied value of around $15 billion.
Microsoft's purchase included rights to place international adson Facebook.
In October 2008, Facebook announced that it would set up its international headquarters inDublin,
In September 2009, Facebook said that it had turned cash flow positive for the first time.
In November 2010, based on SecondMarket Inc., an exchange for shares of privately held companies, Facebook's value was $41