The history of Facebook traces its growth from a college networking site to a global social networking service. It was launched as TheFacebook in , and became Facebook in It expanded to other colleges in the Boston area, the Ivy League , [ 3 ] and gradually most universities in the United States and Canada, [ 4 ] [ 5 ] corporations, [ 6 ] and by to everyone with a valid email address along with an age requirement of being 13 or older.
By , Facebook surpassed MySpace in global traffic and became the world's most popular social media platform. The company focused on generating revenue through targeted advertising based on user data, a model that drove its rapid financial growth. In , Facebook went public with one of the largest IPOs in tech history.
Acquisitions played a significant role in Facebook's dominance. In , it purchased Instagram , followed by WhatsApp and Oculus VR in , extending its influence beyond social networking into messaging and virtual reality. These moves helped Facebook maintain its position as a leader in the tech industry. Despite its success, Facebook has faced significant controversies. Privacy concerns surfaced early, including criticism of its data collection practices.
The FacebookβCambridge Analytica data scandal in revealed misuse of user data to influence elections, sparking global outcry and leading to regulatory fines and hearings. Facebook has been accused of enabling the spread of misinformation and hate speech and influencing political outcomes, prompting debates about content moderation and social media's role in society.
The platform has frequently updated its algorithms to balance user experience with engagement-driven revenue, but these changes have sometimes drawn criticism for amplifying divisive content. Facebook's role in global events, including its use in organizing movements like the Arab Spring and, controversially, its impact on events like the Rohingya genocide in Myanmar, highlights its dual nature as a tool for empowerment and harm.
