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20-Dec-2017 01:33

It was believed that adjustments to earnings estimates were communicated to the underwriters by a Facebook financial officer, who used the information to cash out on their positions while leaving the general public with overpriced shares.

On April 3, 2013, Facebook unveiled Facebook Home, a user-interface layer for Android devices offering greater integration with the site.

Users can add other users as "friends", exchange messages, post status updates, share photos, videos and links, use various software applications ("apps"), and receive notifications of activity.

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

These started as group pages, but a new concept called company pages was planned.

Facebook is an American online social media and social networking service based in Menlo Park, California.

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