Facebook was developed by Mark Zuckerberg and was launched on February 4, 2004.
Original Name: thefacebook
Founded By: Mark Zuckerberg
Mark Zuckerberg ran "thefacebook," as one of his many hobby projects, and the popularity of "thefacebook," spread quickly throughout the dorms of Harvard. Then because of growing popularity it was extended to Stanford and Yale, and continued to grow in popularity.
Dustin Moskovitz and Chris Hughes (fellow Harvard classmates) began to help Zuckerberg expand the site to the next level. On August 2005 facebook.com was purchased for $200,000 according to http://mashable.com/2006/08/25/facebook-profile/.
Facebook originally was only available to University students, then it was extended to high school students, and finally it was extended to anyone aged 13 and over.
Popularity: Facebook has more than 120 million active users.
Privacy Issues: Some countries have ban facebook because of the controversy of privacy issues according to http://en.wikipedia.org/wiki/Facebook.