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2013: IPO, lawsuits, and one billion active users
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Your paper is written from scratch to meet all the requirements and guarantee its originality. Leah is a shopping reporter at Mashable, where she covers shopping trends, gift ideas, and products that make life easier. She graduated from Penn State University in 2012 and is watching horror movies or “The Office” when she’s not shopping online herself.
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A “face book” is a student directory featuring photos and personal information. In 2003, Harvard had only a paper version along with private online directories. On February 4, 2004, Zuckerberg launched “TheFacebook”, originally located at thefacebook.com. The subject of numerous controversies, Facebook has often been criticized over issues such as user privacy , political manipulation (as with the 2016 U.S. elections) and mass surveillance.
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On January 11, 2018, Facebook announced that it would change News Feed to prioritize friends/family content and de-emphasize content from media companies. On November 2, 2021, Facebook announced it would shut down its facial recognition technology and delete the data on over a billion users. Meta later announced plans to implement the technology as well as other biometric systems in its future products, such as the metaverse. On March 10, 2022, Facebook announced that it will temporarily ease rules to allow violent speech against ‘Russian invaders’. Russia then banned all Meta services, including Instagram. After the 2020 U.S. presidential election, Facebook temporarily increased the weight of ecosystem quality in its news feed algorithm.
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At first Facebook downplayed the significance of the breach, and suggested that Cambridge Analytica no longer had access. Facebook then issued a statement expressing alarm and suspended Cambridge Analytica. Review of documents and interviews with former Facebook employees suggested that Cambridge Analytica still possessed the data. This was a violation of Facebook’s consent decree with the Federal Trade Commission. This violation potentially carried a penalty of $40,000 ($43,165 in 2021 dollars) per occurrence, totalling trillions of dollars. Facebook is alleged to have harmful psychological effects on its users, including feelings of jealousy and stress, a lack of attention and social media addiction.