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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.

June 2011: Google launches rival social network called Plus. The Winklevoss twins end their legal battle over the idea behind Facebook. They had settled with Facebook for $65 million in 2008, but later sought more money.

September 2011: Facebook introduces Timeline, a new version of the profile page. It's meant to show highlights from a person's entire life rather than recent posts.

November 2011: Facebook agrees to settle federal charges that it violated users' privacy by getting people to share more information than they agreed to when they signed up to the site. As part of a settlement, Facebook agrees to allow independent auditors to review its privacy practices for two years. It also agrees to get approval from users before changing how the company handles their data.

December 2011: Facebook completes a move to Menlo Park, Calif. Its address is 1 Hacker Way.

January 2012: Facebook begins making Timeline mandatory.

February 2012: Facebook files for an initial public offering of stock. A few weeks later, it unveils new advertising opportunities for brands, allowing ads to mix in with Facebook status updates and photos.

April 2012: Facebook announces plans to buy Instagram, a photo-sharing social network, for $1 billion in cash and stock. It also discloses it plans to list its stock on the Nasdaq under the ticker symbol "FB."

May 2012: Facebook sets a price range of $28 to $35 for its IPO, then increases it to $34 to $38. On May 17, Facebook prices its IPO at $38 per share, and the stock begins trading the next day. The following week, the stock price starts dropping amid concerns about Facebook's ability to keep growing revenue and sell ads on mobile devices.

That month, Facebook also updates its policy to give users more clarity on how information they share is used by the company.

August 2012: Facebook updates its app for iPhones and iPads to make it less clunky. The U.S. government clears Facebook's Instagram deal.

September 2012: Facebook closes its purchase of Instagram. With Facebook's stock price lower, the deal is now valued at about $740 million.

October 2012: Facebook says it has 1 billion active users.

December 2012: Facebook rolls out a messaging app called "Poke" to lukewarm reviews.

January 2013: Facebook unveils a search feature that lets users quickly sift through their social connections for information about people, interests, photos and places.

March 2013: Chief Operating Officer Sheryl Sandberg publishes book urging women to pursue leadership roles.

April 2013: Facebook unveils a new experience for Android phones. The idea behind the new Home service is to bring Facebook's content to the phone's home screen, rather than require users to check apps on the device.

 

 

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