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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.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.Facebook is an American for-profit corporation and an online social media and social networking service based in Menlo Park, California.The Facebook website was launched on February 4, 2004, by Mark Zuckerberg, along with fellow Harvard College students and roommates, Eduardo Saverin, Andrew Mc Collum, Dustin Moskovitz, and Chris Hughes.
On April 3, 2013, Facebook unveiled Facebook Home, a user-interface layer for Android devices offering greater integration with the site.Facebook may be accessed by a large range of devices with Internet connectivity, such as desktop, laptop and tablet computers, and smartphones.After registering to use the site, users can create a customized profile indicating their name, occupation, schools attended and so on.The company 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 4 billion, a new record.Facebook makes most of its revenue from advertisements which appear onscreen.