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After registering, users can create a customized profile indicating their name, occupation, schools attended and so on.

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In March 2011, it was reported that Facebook was removing about 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.Facebook gradually added support for students at various other universities, and eventually to high school students.Since 2006, anyone who claims to be at least 13 years old has been allowed to become a registered user of Facebook, though variations exist in this requirement, depending on local laws.The founders initially limited the website's membership to Harvard students.Later they expanded it to higher education institutions in the Boston area, the Ivy League schools, and Stanford University.The name comes from the face book directories often given to American university students.

Facebook held its initial public offering (IPO) in February 2012, and began selling stock to the public three months later, reaching an original peak market capitalization of $104 billion, a new record.

the benefits are many." Six days after the site launched, Harvard seniors Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra accused Zuckerberg of intentionally misleading them into believing that he would help them build a social network called Harvard

They claimed that he was instead using their ideas to build a competing product.

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.

In late 2007, Facebook had 100,000 business pages (pages which allowed companies to promote themselves and attract customers).