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Zuckerberg: from Harvard dropout to Silicon Valley legend
by Staff Writers
San Francisco (AFP) May 18, 2012

Facebook: from Harvard dorm to Wall Street
San Francisco (AFP) May 18, 2012 - Key dates in the history of Facebook, which launched its public offering Friday.

-- 2004 --

JANUARY: Mark Zuckerberg, a 19-year-old Harvard computer whiz, begins working out of his dormitory room on an online network. A month later, he launches "thefacebook" with classmates Chris Hughes, Eduardo Saverin and Dustin Moskovitz.

MAY: Zuckerberg moves to Silicon Valley, decides not to return to Harvard for the fall semester.

JULY: Facebook get $500,000 investment from PayPal co-founder Peter Thiel.

-- 2005 --

APRIL: Facebook gets a second round of funding: $12.7 million from Accel Partners.

AUGUST: Thefacebook.com changes its name to Facebook.

-- 2006 --

FEBRUARY: Viacom offers to buy Facebook for $1.5 billion. Yahoo! also makes an unsuccessful $1 billion bid.

-- 2007 --

OCTOBER: Microsoft invests $240 million in a deal that values Facebook at $15 billion. Membership tops 50 million.

-- 2008 --

FEBRUARY: A $65 million settlement is reached with twins Tyler and Cameron Winklevoss over allegations that Zuckerberg stole their idea. Facebook launches a Spanish site.

MARCH: French and German sites are launched.

APRIL: Facebook dethrones MySpace as the world's most popular social network.

AUGUST: Membership hits 100 million.

-- 2009 --

MARCH: Facebook launches the first mobile application.

MAY: Russia's Digital Sky Technologies invests $200 million.

SEPTEMBER: Zuckerberg says the firm has become "cash flow positive."

-- 2010 --

MAY: Pakistan blocks access to Facebook over a competition encouraging users to post caricatures of the Prophet Mohammed.

JULY: Membership hits 500 million, including Lady Gaga and President Barack Obama.

DECEMBER: Time magazine names Zuckerberg "Person of the Year" for "transforming the way we live our lives every day."

-- 2011 --

JANUARY: A private share offering raises $1.5 billion, values Facebook at $50 billion.

FEBRUARY: Facebook announces plans to move from Palo Alto to former home of Sun Microsystems in Menlo Park.

-- 2012 --

JANUARY: Facebook files for initial public offering.

MAY: Membership hits 900 million, regulatory filings show. The IPO is priced at $38 per share, giving Facebook a market value of $104 billion and raising at least $16 billion.

MAY 18: Zuckerberg, wearing a trademark hoodie and surrounded by employees at Facebook's California headquarters, remotely rings the Nasdaq bell to launch the market debut. But after an early pop, the day is a disappointment, with shares gaining a scant 0.6 percent to end at $38.23.


Mark Zuckerberg, the Harvard dropout who changed what it means to be social, cemented his Silicon Valley legend and cash riches Friday by leading Facebook to a historic Wall Street debut.

The hoodie-wearing 28-year-old, depicted in the Hollywood drama "The Social Network," as a socially challenged computer geek, has evolved into a confident chief executive presiding over an online community of more than 900 million.

Despite his massive wealth, Zuckerberg's look has not changed over the years, and he still favors t-shirts, jeans and sneakers, topped off by his trademark hooded sweatshirt and a mop of brown, curly hair.

Wearing a tie daily became one of the annual goals that Zuckerberg sets for himself as a way of expanding his life to include more than just work, though company insiders recount how hard it was to get him to give up wearing sandals.

In 2011, his aim was to become a vegetarian and "only eat meat if I kill the animal myself."

In 2010, his goal was to learn Chinese. "Some members of my girlfriend's family only speak Chinese and I wanted to be able to talk to them," he said.

Zuckerberg rang the Nasdaq opening bell remotely from Facebook's new campus in the northern California city of Menlo Park on Friday, marking the largest IPO ever by an Internet firm.

The $16 billion IPO is structured to keep control of Facebook in the hands of Zuckerberg, who has been Time's "Person of the Year" and cracked the Forbes list of 20 richest people in the world.

Born on May 14, 1984, Zuckerberg was raised in Dobbs Ferry outside New York, one of four children of a dentist father and a psychiatrist mother.

He began writing computer programs at the age of 11 including one said to resemble Pandora's musical taste program which reportedly drew the interest of AOL and Microsoft.

He went to high school at the prestigious Phillips Exeter Academy, where he was captain of the fencing team, before entering elite Harvard University.

Zuckerberg launched Thefacebook.com, as it was then known, from his dorm room on February 4, 2004 with roommates and classmates Dustin Moskovitz, Chris Hughes and Eduardo Saverin.

The stated goal: "Making the world more open and connected." Going public on Wall Street eight years later in some ways completes the journey.

Facebook's early years were not without controversy, however.

In 2008, a $65 million settlement was reached with three Harvard classmates -- twins Tyler and Cameron Winklevoss, and Divya Narendra -- over their charges that Zuckerberg had stolen the idea for Facebook from them.

The conflict was at the heart of "The Social Network," the Oscar-winning film written by Aaron Sorkin and directed by David Fincher.

Zuckerberg left Harvard in May 2004 for Silicon Valley, where he received his first major funding -- $500,000 -- from PayPal co-founder Peter Thiel followed by nearly $13 million the next year from Accel Partners.

Despite recurring privacy complaints, Facebook has gone from strength to strength, growing from 50 million members in 2007 to more than 900 million today with a billion users on the horizon.

Zuckerberg's Facebook page, which has attracted 13 million fans, contains pictures of his girlfriend, Priscilla Chan; his dog, Beast, and co-workers. His "likes" include the band "Linkin Park" and the documentary "Waiting for Superman."

Zuckerberg has been referred to by some as being struck in the mold of Apple co-founder Steve Jobs, who died last year of cancer. Zuckerberg has praised Jobs as a friend and a role model.

Similarities between the men include not being afraid to risk falling down while chasing big dreams, according to Creative Strategies principal analyst Tim Bajarin.

"He has the Silicon Valley DNA that you can't be afraid to fail," Bajarin said of Zuckerberg.

"Another thing that is very much Steve Jobs is he has a vision and he follows that vision no matter what anybody else says."

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Facts and figures about Facebook
San Francisco (AFP) May 18, 2012 - Facts and figures about Facebook:

- Facebook has more than 900 million active users. If the company were a country, it would be the third largest in the world after China (population: 1.34 billion) and India (population: 1.17 billion).

- Some 488 million people use Facebook on mobile devices -- more than half its members worldwide -- and the reach is even bigger in countries such as South Africa, Nigeria and Japan, where mobile use is 70 to 90 percent. (source: socialbakers.com).

- With 157 million members, the United States has the most Facebook users. Brazil recently jumped to second place with 47 million, followed by India with 45.8 million, Indonesia with 42.2 million and Mexico with 33.1 million. (source: socialbakers.com)

- Facebook is the most popular social network in every country of the world, with the exceptions of China, Japan, Russia, South Korea and Vietnam. (source: comScore)

- In April, Facebook announced a billion-dollar deal to buy the startup behind wildly popular smartphone photo sharing application Instagram, its biggest acquisition to date. The US Federal Trade Commission is reviewing the deal.

- Facebook has minted four billionaires: Mark Zuckerberg, Dustin Moskovitz, Eduardo Saverin and Sean Parker. The 28-year-old Zuckerberg's net worth was estimated at $17.5 billion on the 2011 Forbes list of the wealthiest Americans. Moskovitz had a net worth of $3.5 billion but pipped Zuckerberg for the title of world's youngest billionaire, being eight days younger. The Brazilian-born Saverin, who left Facebook early on after a falling-out with Zuckerberg, had a net worth of $2 billion. Parker, the Napster co-founder who briefly served as Facebook's president, had a net worth of $2.1 billion.

- Chris Hughes, one of Facebook's four co-founders, served as director of online organizing for Barack Obama's successful 2008 presidential campaign.

- Facebook says it had an average of 526 million daily active users in March 2012, an increase of 41 percent from a year ago. It had registered 125 billion "friend connections" as of March 31 and 3.2 billion "likes" and comments.

- More than 300 million photos are uploaded to Facebook every day.

- "The Social Network," the 2010 film about the origins of Facebook, won four Golden Globes -- including for best picture and best director -- but disappointed at the Oscars, walking away with only non-acting awards for best adapted screenplay, original score and film editing.

- Facebook, which currently employs around 3,500 people, has announced plans to hire "thousands" more over the next year. Some studies suggest that Facebook-related firms and apps have created many more jobs and economic value.

- With a market value at the IPO of $104 billion, Facebook is bigger than Amazon ($98 billion) and Cisco ($89 billion), and more than twice the value of Ford Motor Co. ($38 billion). But it remains behind Google ($203 billion) and Apple ($495 billion).



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INTERNET SPACE
Facebook IPO a jackpot for backers and insiders
San Francisco (AFP) May 18, 2012
Rock star Bono, Russian tycoon Yuri Milner, and Mark Zuckerberg's college roommate Dustin Moskovitz have billions of reasons to "like" Facebook. The seemingly unlikely bedfellows are on the list of Facebook insiders catapulted from rich to dizzyingly wealthy with the rabidly-awaited initial public offering (IPO) by the leading social network on Friday. At $104 billion, Facebook's IPO is ... read more


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