Facebook, Inc. is an American technology conglomerate based in Menlo Park, California. It was founded by Mark Zuckerberg, along with his fellow roommates and students at Harvard College, who were Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes, originally as TheFacebook.com. In May 2019, Facebook founded Libra Networks, reportedly to develop its own cryptocurrency.
About Facebook, Inc. in brief
Facebook, Inc. is an American technology conglomerate based in Menlo Park, California. It was founded by Mark Zuckerberg, along with his fellow roommates and students at Harvard College, who were Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes, originally as TheFacebook.com. Facebook is one of the world’s most valuable companies. It has acquired Instagram, WhatsApp, Oculus VR, Giphy and Mapillary, and has a 9. 9% stake in Jio Platforms. In May 2019, Facebook founded Libra Networks, reportedly to develop its own cryptocurrency. The consortium is expected to pool money from financial companies like Visa, Mastercard, PayPal and Uber to fund the launch of the cryptocurrency named Libra. In October 2013, Facebook acquired Instagram for approximately US$1 billion in cash and stock. In February 2014, Facebook announced that it would be buying mobile messaging company WhatsApp for US$19 billion in stock. Later that year, Facebook bought Oculus VR for USD 2.5 billion and its stock for approximately $1.6 billion. In April 2012, the company announced it would sell 25% more shares than originally planned due to high demand. The IPO raised USD 16 billion, making it the third largest in U.S. history. The stock price left the company with a higher market capitalization than all but a few U.
S. corporations – surpassing heavyweights such as Amazon, McDonald’s, Disney, and Kraft Foods – and made Zuckerberg’s stock worth USD 19 billion. On May 2, 2014, Zuckerberg announced that the company would be changing its internal motto from \”Move fast and break things\” to \”Movefast with stable infrastructure\”. The earlier motto had been described as Zuckerberg’s \”prime directive to his developers and team\” in a 2009 interview in Business Insider, in which he also said \”Unless you are breaking stuff, you are not moving fast. In May 2013, it was reported that Libra is being supported by financial companies such as Visa and Mastercard to develop their own cryptocurrency, called Libracoin. In December 2013, Standard & Poor’s added Facebook, Inc., to its S&P 500 index on December 21, 2013. The stock ended its first full week of trading at USD 31. 91, a 16. 5% decline. The company has 845 million active monthly users and its website featured 2. 7 billion daily likes and comments. In January 2014, it announced it was buying mobile analytics company WhatsApp. It also has acquired Israeli mobile messaging app App Annie.
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