Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Hits and misses in Facebook's history

AP/ SMH | May 20, 2013
It has been a year since Facebook has launched its initial public offering and the journey has been a mixed bag with a 30 percent dip in stock value since its IPO price.

Facebook made its debut on the stock market a year ago on May 18 in one of the largest IPOs in history and the biggest for any Internet company.

The social network's market value was more than $100 billion.

Now, Facebook's stock is trading roughly 30 percent lower and has not hit its IPO price of $38 per share. Today, Facebook is valued at around $63 billion.

In the year since its initial public offering, Facebook has launched a slew of new features, including search features and a deep integration into Android smartphones and tablet computers. It also surpassed the 1 billion user mark.

Advertisement

Here are some key developments over the years:

February 2004: Mark Zuckerberg starts Facebook as a sophomore at Harvard University.

March 2004: Facebook begins allowing people from other colleges and universities to join.

June 2004: Facebook moves its headquarters to Palo Alto, Calif.

September 2004: Facebook introduces the Wall, which allows people to write personal musings and other tidbits on profile pages. Facebook becomes the target of a lawsuit claiming that Zuckerberg stole the idea for the social network from a company co-founded by twins Cameron and Tyler Winklevoss and a third person at Harvard.

September 2005: Facebook expands to include high schools.

May 2006: Facebook introduces additional networks, allowing people with corporate email addresses to join.

September 2006: Facebook begins letting anyone over 13 join. It also introduces News Feed, which collects friends' Wall posts in one place. Although it led to complaints about privacy, News Feed would become one of Facebook's most popular features.

May 2007: Facebook launches Platform, a system for letting outside programmers develop tools for sharing photos, taking quizzes and playing games. The system gives rise to a Facebook economy and allows companies such as game maker Zynga Inc. to thrive.

October 2007: Facebook agrees to sell a 1.6 percent stake to Microsoft for $240 million and forges an advertising partnership.

November 2007: Facebook unveils its Beacon program, a feature that broadcasts people's activities on dozens of outside sites. Yet another privacy backlash leads Facebook to give people more control over Beacon, before the company ultimately scraps it as part of a legal settlement.

March 2008: Facebook hires Sheryl Sandberg as chief operating officer, snatching the savvy, high-profile executive from Google Inc.

April 2008: Facebook introduces Chat.

February 2009: Facebook introduces "Like," allowing people to endorse other people's posts.

June 2009: Facebook surpasses News Corp.'s Myspace as the leading online social network in the U.S.

August 2010: Facebook launches location feature, allowing people to share where they are with their friends.

October 2010: "The Social Network," a movie about Zuckerberg and the legal battles over Facebook's founding, is released. It receives eight Academy Awards nominations and wins three.

 

1  2  Next Page 

Sign up for CIO Asia eNewsletters.