Facebook founder and CEO Mark Zuckerberg
Paul Sakuma/AP
Slideshow
Facebook's meteoric rise
Danielle Webb
Globe and Mail Update
Published
Last updated
As Facebook prepares to raise $5-billion in an IPO, here's a look at how far the company has come since its creation in 2004. Click here to see a chart detailing Facebook's user growth.
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Facebook founder and CEO Mark Zuckerberg is photographed during a November, 2011, recruitment visit to Harvard University, where the social network began in 2004. — Brian Snyder/Reuters
On Feb. 4, Mark Zuckerberg launches Thefacebook.com from his Harvard University dorm room with classmates Eduardo Saverin, Dustin Moskovitz and Chris Hughes. Within a month, over half of Harvard undergraduate students set up a profile, and the site has expanded to Stanford University, Columbia University and Yale University.
That summer, after expanding to several U.S. universities, venture capitalist and PayPal co-founder Peter Thiel invests $500,000 (U.S.) in Thefacebook, the company incorporates and Zuckerberg drops out of Harvard and moves to Palo Alto, Calif.
In September, Harvard classmates Divya Narendra and Tyler and Cameron Winklevoss file a lawsuit against Thefacebook.com and its five officers, accusing Zuckerberg of stealing the idea for his site from their social network HarvardConnection (later ConnectU), which launched the previous May but failed to get off the ground.
The filed papers allege: “This is a civil action for breach of contract, misappropriation of trade secrets, breach of fiduciary duty, unjust enrichment, intentional interference with prospective business advantage, breach of duty of good faith and fair dealing, and fraud arising out of Defendant’s ... unauthorized use of Plaintiff’s source code and confidential business plans, and usurpation of business opportunity.”
By year's end, the site has 1 million users.
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Facebook expanded to international universities in 2005.— Kimberly White/Reuters
In May, 2005, the company receives another investment, this time $12.7-million from Accel Partners, a global venture capital firm headed by Jim Breyer, and has expanded to over 800 colleges. In August, the company changes its name from Thefacebook.com to Facebook.
October, 2005, brings two new milestones for the social network: it begins to add international school networks and allows users to upload photos for the first time.
In December, Facebook reaches 6 million users.
In April, 2006, Facebook raises $25-million from Silicon Valley investors, including Greylock Partners. The company also launches Facebook Mobile and in May adds work networks to the site.
In September, the News Feed debuts and registration is opened to anyone with an e-mail address. By December, the site has 12 million users.
Zuckerberg reportedly turns down a $1-billion offer from Yahoo Inc. for Facebook in 2006.
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ConnectU founders Tyler Winklevoss, left, and Cameron Winklevoss, right, who are twin brothers, and Divya Narendra pose following a news conference in Boston, July 25, 2007. A federal judge gave the three until Aug. 8 to flesh out their allegations against Mark Zuckerberg, which include fraud, copyright infringement and misappropriation of trade secrets over Facebook.
May and June, 2007, see the addition of Marketplace (for classified listings) and the ability to post video to the site. Facebook Platform also launches, which allows developers to create applications for the site.
Beacon, Facebook’s first attempt at targeted advertising, launches allowing users to share information across multiple sites. However, Beacon is an opt-out addition and many users complain about breaches of privacy. By December, Zuckerberg issues an apology for mishandling Beacon and gives users the option to turn it off entirely.
In October, Microsoft announces it has purchased a 1.6-per-cent share in the company for $240-million.
By December, Facebook reaches 58 million users.
In February and March, 2008, foreign language versions of the site launch in Spain, France and Germany. On March 4, Sheryl Sandberg is named chief operating officer, and in April an instant-messaging system call Facebook Chat is added. The site reaches the milestone of 100 million users by the end of the summer.
On April 7, Facebook settles its lawsuit with the Winklevoss brothers and Divya Narenda for a reported $65-million, but continues to deny any intellectual property theft.
In December, the site allows users to connect their Facebook accounts to other sites. It ends the year with 145 million users.
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A sign at Facebook headquarters in Menlo Park, Calif.
The Like button is added to the site in February, 2009. A home page redesign launches in March.
On June 29, the company hires David Ebersman as chief financial officer.
Facebook settles another lawsuit, this time with co-founder Eduardo Saverin who was effectively squeezed out of the company shortly after its move to Palo Alto. Saverin reportedly receives 5 per cent of the company, but signed a non-disclosure agreement so details are scarce. Saverin’s role in the founding of Facebook is acknowledged.
In July, Ben Mezrich publishes The Accidental Billionaires, which details the founding of Facebook and the feud between Saverin and Zuckerberg.
In mid-2009, China blocks Facebook use in the country. By the end of the year Facebook reaches 360 million users.
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The cover of Time magazine's 2010 Person of the Year issue, featuring Facebook founder and CEO Mark Zuckerberg.
In May, 2010, Facebook enters a five-year partnership with gaming developer Zynga, maker of popular social games like FarmVille and FishVille.
At an All Things Digital conference in June, Zuckerberg is grilled over Facebook’s privacy policy, renewing questions about the young CEO’s viability as leader of the company.
Later that month, New York businessman Paul Ceglia files a lawsuit against Zuckerberg, claiming a 2003 deal with the Facebook CEO entitled him to 84 per cent of the company. The lawsuit remains ongoing.
Facebook Places launches in August, allowing users to share their location in real time with friends.
In October, Columbia Pictures releases David Fincher’s The Social Network, a film chronicling Facebook’s origin including its lawsuits with ConnectU founders Tyler and Cameron Winklevoss and Divya Narenda, and the separate suit with co-founder Eduardo Saverin.
In December, Zuckerberg is named Time magazine’s person of the year, while the site reaches 608 million users.
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An employee works on a computer at the new headquarters of Facebook in Menlo Park, Calif. on Jan. 11, 2012.— Robert Galbraith/Reuters
In January, 2011, Facebook raises $500-million through deals with Goldman Sachs and Digital Sky Technologies. Later in January, Goldman Sachs attempts to sell some of its shares to its private investors. The offer was withdrawn after accusations it ran afoul of regulations.
In September, Facebook introduces the biggest change to personal profiles to date with the launch of Timeline. Users can now share the story of their entire life through the social networking site.
In November, Facebook settles Federal Trade Commission charges that it deceived users over privacy regulations. In December Facebook moves its headquarters to Menlo Park, Calif., and the site reaches 845 million users.
On Feb. 1, 2012, Facebook files its Form S-1 with the U.S. Securities and Exchange Commission, intending to raise $5-billion in an initial public offering.
Sources: Facebook.com, The Globe and Mail, Reuters, The Telegraph and The Harvard Crimson
