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Facebook is a social networking service originally launched as TheFacebook on February 4, 2004, before changing its name to simply Facebook in August 2005. [1] It was founded by Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. [2]
Facebook enables users to control access to individual posts and their profile [320] through privacy settings. [321] The user's name and profile picture (if applicable) are public. Facebook's revenue depends on targeted advertising, which involves analyzing user data to decide which ads to show each user.
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Facebook's valuation steadily increased in the days leading up to the IPO. Prior to the official valuation, the target price of the stock steadily increased. In early May, the company was aiming for a valuation somewhere from $28 to $35 per share ($77 billion to $96 billion). On May 14, it raised the targets from $34 to $38 per share.
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