In March 2011, it was reported that Facebook was removing about 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 can be accessed from a large range of devices with Internet connectivity, such as desktop computers, laptops and tablet computers, and smartphones.
After registering, users can create a customized profile indicating their name, occupation, schools attended and so on.
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.The name comes from the face book directories often given to American university students.Facebook held its initial public offering (IPO) in February 2012, valuing the company at 4 billion, the largest valuation to date for a newly listed public company.He uploaded all art images to a website, each of which was featured with a corresponding comments section, then shared the site with his classmates, and people started sharing notes.Zuckerberg told the Crimson that "Everyone's been talking a lot about a universal face book within Harvard. I think it's kind of silly that it would take the University a couple of years to get around to it.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.The founders initially limited the website's membership to Harvard students.Later they expanded it to higher education institutions in the Boston area, the Ivy League schools, and Stanford University.They claimed that he was instead using their ideas to build a competing product.In late 2007, Facebook had 100,000 business pages (pages which allowed companies to promote themselves and attract customers).