Facebook, Inc. is an American technology conglomerate based in Menlo Park, California. It was founded by Mark Zuckerberg, along with fellow harvard roommates and students, who were Eduardo Savferin, Andrew McCollum, Dustin Moskowitz and Chris Hughes, originally as TheFacebook.com - today's Facebook, a popular global social networking service. Facebook is one of the most valuable companies in the world. It is considered one of the top five companies in the IT industry in the United States, along with Google, Apple, Microsoft, and Amazon. Facebook offers other products and services outside its social networking platform, including Facebook Messenger, Facebook Watch and Facebook Portal. It has also acquired Instagram, WhatsApp, Oculus VR, Giphy and Mapillary, and has a 9.9% stake in Jio platforms. Facebook submitted for initial public offering (IPO) on February 1, 2012. According to the initial bulletin, the company is seeking to raise $5 billion. The document announced that the company has 845 million active monthly users and its website includes 2.7 billion likes and daily comments. After the IPO, Zuckerberg will retain a 22% stake in Facebook and will own 57% of the voting shares. Insurance companies valued the shares at $38 each, pricing the company at $104 billion, the largest valuation of a new public company to date. On May 16, the day before the IPO, Facebook announced that it would sell 25% more shares than originally planned due to high demand. IPO raised $16 billion, making it The third largest bank in U.S. history (just ahead of AT&T Wireless and behind General Motors and Visa only). The company's share price has left the company with a higher market value than all but a few U.S. companies -- surpassing heavy weights such as Amazon, McDonald's, Disney and Kraft Foods -- and making Zuckerberg's shares worth $19 billion. The New York Times reported that the offer overcame questions about Facebook's difficulties in attracting advertisers to turn the company into "must-have shares." Jamie Lee of JPMorgan Chase described it as "the next big blue chip". On the other hand, techCrunch's writers expressed their doubts, saying, "This is a big multiplier to rise to, and Facebook will likely need to add bold new revenue streams to justify the massive valuation." The shares, which began on May 18, were delayed on That Day due to technical problems on the Nasdaq. The stock struggled to stay above the IPO price for most of the day, forcing the underwriters to buy back the shares to support the price. At the closing bell, the shares were valued at $38.23, or just $0.23 above the IPO price, and were down $3.82 from the opening bell. The financial press widely described the opening as disappointing. However, the stock set a new record for the volume of initial public offering trading. On May 25, 2012, the stock ended its first full week of trading at $31.91, down 16.5%. On May 22, 2012, regulators from the Wall Street Financial Industry Regulatory Authority announced that they had begun investigating whether facebook banks had shared information in a way that It's not true just with selected clients, rather than the general public. Massachusetts Secretary of State William Galvin summoned Morgan Stanley on the same issue. The allegations angered some investors and led to numerous lawsuits immediately, one of which was a class action lawsuit demanding more than $2.5 billion in IPO losses. Bloomberg estimated that retail investors may have lost nearly $630 million to Facebook shares since it first appeared. S&P added Facebook and Inc. to the S&P 500 index on December 21, 2013.On May 2, 2014, Zuckerberg announced that the company will change its internal logo from "fast transfer and break things" to "move quickly with stable infrastructure." He described the previous slogan as "Zuckerberg's main directive to his developers and his team" in a 2009 interview at Business Insider, where he also said, "Unless you're breaking things, you're not moving fast enough." In May 2019, Facebook founded Libra Networks, reportedly in order to develop their own stable currency. In recent developments, Libra has reportedly been supported by financial companies such as Visa, MasterCard PayPal and Uber. The Consortium is expected to raise $10 million each to finance the launch of the digital currency Libra. Depending on when you receive approval from the Swiss Financial Market Regulatory Authority to act as a payment service, Libra plans to launch a limited format cryptocurrency in 2021.After the January 6, 2021 attack on the U.S. Capitol, Facebook announced that it would ban ads for weapons accessories and products that could be used for any armed combat. It will The ban continues at least two days after President Joe Biden's inauguration on January 20.