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Entertainment Weekly included the site on its end-of-the-decade "best-of" list saying, "How on earth did we stalk our exes, remember our co-workers' birthdays, bug our friends, and play a rousing game of Scrabulous before Facebook?
" and according to its data, half of the site's membership used Facebook daily, for an average of 34 minutes, while 150 million users accessed the site by mobile.
On October 24, 2007, Microsoft announced that it had purchased a 1.6% share of Facebook for 0 million, giving Facebook a total implied value of around billion.
Microsoft's purchase included rights to place international advertisements on the social networking site.
A company representative called the milestone a "quiet revolution." In November 2010, based on Second Market Inc.
(an exchange for privately held companies' shares), Facebook's value was billion.
[...] I think it’s kind of silly that it would take the University a couple of years to get around to it.
I can do it better than they can, and I can do it in a week." In January 2004, Zuckerberg began writing code for a new website, known as "The Facebook", with the inspiration coming from an editorial in the Crimson about Facemash, stating that "It is clear that the technology needed to create a centralized Website is readily available ...
On April 3, 2013, Facebook unveiled Facebook Home, a user-interface layer for Android devices offering greater integration with the site.
Its popularity has led to prominent media coverage for the company, including significant scrutiny over privacy and the psychological effects it has on users.
In recent years, the company has faced intense pressure over the amount of fake news, hate speech and violence prevalent on its services, all of which it is attempting to counteract.
The company had slightly surpassed e Bay to become the third largest American web company after Google and
In March 2011, it was reported that Facebook was removing approximately 20,000 profiles every day for violations such as spam, graphic content, and underage use, as part of its efforts to boost cyber security. Finance website reported that Facebook's lead underwriters, Morgan Stanley (MS), JP Morgan (JPM), and Goldman Sachs (GS), cut their earnings forecasts for the company in the middle of the IPO process.