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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 report or block unpleasant people.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".The Facemash site was quickly forwarded to several campus group list-servers, but was shut down a few days later by the Harvard administration.These started as group pages, but a new concept called company pages was planned.On October 24, 2007, Microsoft announced that it had purchased a 1.6% share of Facebook for 0 million, giving Facebook a total implied value of around billion.
Its website was launched on February 4, 2004, by Mark Zuckerberg, along with fellow Harvard College students and roommates Eduardo Saverin, Andrew Mc Collum, Dustin Moskovitz, and Chris Hughes.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.It was believed that adjustments to earnings estimates were communicated to the underwriters by a Facebook financial officer, who used the information to cash out on their positions while leaving the general public with overpriced shares.Facebook gradually added support for students at various other universities, and eventually to high school students.
Since 2006, anyone who claims to be at least 13 years old has been allowed to become a registered user of Facebook, though variations exist in this requirement, depending on local laws." and according to its data, half of the site's membership used Facebook daily, for an average of 34 minutes, while 150 million users accessed the site by mobile.A company representative called the milestone a "quiet revolution." In November 2010, based on Second Market Inc.In recent years, the company has faced intense pressure over the amount of fake news, hate speech and depictions of violence prevalent on its services, all of which it is attempting to counteract.