Facebook was founded by Mark Zuckerberg with his college roommates and fellow Harvard University students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes. The website's membership was initially limited by the founders to Harvard students, but was expanded to other colleges in the Boston area, the Ivy League, and Stanford University. It gradually added support for students at various other universities before opening to high school students, and eventually to anyone aged 13 and over.
In May 2005, Accel partners invested $12.7 million in Facebook, and Jim Breyer added $1 million of his own money to the pot.
According to a May 2011 Consumer Reports survey, there are 7.5 million children under 13 with accounts and 5 million under 10, violating the site's terms of service.
A January 2009 Compete.com study ranked Facebook as the most used social networking service by worldwide monthly active users. 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?" Critics, such as Facebook Detox, state that Facebook has turned into a national obsession in the United States, resulting in vast amounts of time lost... [continues]
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