Key sections in the history of Facebook, the world’s largest social networking app, which marks Wednesday the tenth anniversary of its debut in the stock market.

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THE BEGINNING OF FACEBOOK

In 2003, 19-year-old Harvard computer engineer Mark Zuckerberg began working from his dormitory room on an Internet network originally designed to connect Harvard students.

The following year, he launched thefacebook.com with three Harvard roommates and classmates: Chris Hughes, Edward Saverin and Dustin Muscovite.

As membership opens to other North American colleges, Zuckerberg dropped out and moved to Silicon Valley.

The new company gets its first investment from PayPal co-founder Peter Till, who earns $ 500,000 (Rs 8.1 million) and officially changed its name to Facebook in 2005.

In 2006, US media conglomerates Viacom and Yahoo released separate games for Facebook, but both declined.

In a year, Microsoft will receive a stake in the company for $ 240 million (3.8 billion rubles), and by this time Facebook already has 50 million users.

This year, Zuckerberg first admitted “privacy bugs” on the Beacon advertising platform, which tracked purchases made by Facebook members and told its friends what they had bought.

In 2008, the platform surpassed MySpace and became the world’s most popular social network, and the following year launched its first mobile application.

FACEBOOK is playing an increasing role in shaping public debate

David Fincher’s story about the origins of Facebook, Social networkgoes to theaters in 2010 and receives an Oscar for Best Adapted Screenplay, Original Score and Film Editing.

That year, Time magazine named Zuckerberg Man of the Year for “changing the way we live every day.”

As a rocket membership, Facebook is playing an increasing role in shaping public debate.

In 2011, the platform played a key role in giving voice to frustrated Arab youth in the Arab Spring uprisings that began that year in Tunisia.

FACEBOOK ENTERS THE STOCK MARKET

In 2012, Facebook acquired Instagram’s photo-sharing program for $ 1 billion (Rs 16.2 billion) and files for the initial public offering.

The largest IPO ever in the technology sector has raised about $ 16 billion (259.8 billion rupees) and estimates the company at 104 billion dollars (1.6 trillion rupees)

Zuckerberg, dressed in a hoodie, remotely rings a Nasdaq call from Facebook headquarters in California on the first day of trading.

By October 2012, the number of Facebook friends had exceeded one billion.

FACEBOOK BUYS WHATSAPP FOR GASHES AND BACKS

In 2014, Facebook paid a small fortune to try to boost its popularity among young smartphone users by buying the WhatsApp messaging platform for a cash and stock deal worth $ 19 billion (Rs 308.6 billion).

As he continues to move around the world, he moves to a new headquarters designed by Frank Gehry, in Silicon Valley, with a rooftop park and “the largest open floor plan in the world”.

OPERATION OF FACEBOOK USER DATA ATTENTION

In 2016, Facebook was embroiled in controversy over the fact that Russia allegedly uses it and other social media platforms to try to influence the election results that led Donald Trump to the White House.

In 2018, Facebook was again at the center of a scandal after it emerged that the British consulting firm Cambridge Analytica had secretly obtained the personal data of millions of Facebook users and used them for political purposes, including in an attempt to enlist Trump’s support.

In the U.S. Congress, Zuckerberg is annoyed because of Facebook’s handling of user data and how the network is being manipulated to undermine democracy.

The Facebook boss promises to do more to combat fake news, foreign interference in choices and hate speech, and tighten data privacy.

FACEBOOK TO GO

In 2021, Zuckerberg announced that Facebook had changed the company’s name to Meta – Greek means “outside”, but also means metaworld – a virtual world, which, in his opinion, represents the future of the Internet.

On February 3, 2022, the company’s share price fell, wiping more than $ 200 billion (Rs 3.2 trillion) from its market value after the company warned of slowing revenue growth.

As young users increasingly leave it for the sake of people like TikTok or Snapchat, the company admits it is losing a million active daily users. But with 1.96 billion users, a quarter of the world’s population, it remains the largest social networking platform.

© Agence France-Presse / Glenn Chapman

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