January 25, 2015 7:57 AM ET

Internet Software and Services

Company Overview of Facebook, Inc.

Company Overview

Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications. The company’s products include Facebook mobile app and Website that enable people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Messenger, a mobile-to-mobile messaging application available on iOS and Android phones; and Instagram, a mobile app and Website that enable people to take photos or videos, customize them with filter effects, and share them with friends and followers in a photo feed or send them d...

1601 Willow Road

Menlo Park, CA 94025

United States

Founded in 2004

6,337 Employees

Phone:

650-543-4800

Key Executives for Facebook, Inc.

Co-Founder
Age: 30
Total Annual Compensation: $1.0
Chief Operating Officer and Director
Age: 44
Total Annual Compensation: $988.4K
Chief Technology Officer and Vice President of Engineering
Age: 39
Total Annual Compensation: $710.8K
Vice President of Business and Marketing Partnerships
Age: 42
Total Annual Compensation: $291.5K
Compensation as of Fiscal Year 2013.

Facebook, Inc. Key Developments

Bid for Facebook Site

A JPMorgan Chase & Co. affiliate and Union Investment Group are among bidders shortlisted to buy Facebook, Inc. (NasdaqGS:FB)’s European headquarters buildings in Dublin, a person with knowledge of the matter said. Chartered Land Ltd., which developed the two properties, also included Hibernia REIT Plc (HBRN) and Irish Life Group Limited, a unit of Great-West Lifeco Inc., among the final bidders for the office buildings, said the person, who asked not to be identified because the matter is private. The properties were offered for sale in November with an asking price of €216 million ($256 million). Spokesmen for Union Investment, JPMorgan, Irish Life and Hibernia REIT all declined to comment. Chartered Land Executive Chairman Joe O’Reilly also declined to comment.

The United States District Court for the Northern District of California Issues Decision Granting Summary Judgment to Linkedin, Inc. and Facebook, Inc

On January 2, 2015, the United States District Court for the Northern District of California issued a decision granting summary judgment to defendants LinkedIn, Inc. and Facebook, Inc. in connection with a lawsuit filed on October 3, 2012 by Plaintiff Bascom Research, LLC alleging patent infringement. As a result of the Court’s decision, Document Security Systems, Inc. expects that the value of the patents at issue, which had a net book value of $23.2 million as of September 30, 2014, has been impaired. In addition, Document Security Systems, Inc. will assess if reporting unit goodwill of approximately $12.6 million has been impaired by the court’s decision.

U.S. District Judge Denies Facebook's Bid to Dismiss Lawsuit on Scanning of Messages

Facebook Inc. will have to face a class-action lawsuit alleging that it violated users privacy when it scanned the content of messages for advertising purposes, a federal judge in Oakland has ruled. U.S. District Judge Phyllis Hamilton denied Facebook's bid to dismiss the lawsuit, filed by Facebook users Matthew Campbell and Michael Hurley in 2013. The suit alleges that until October 2012, when the social network says it stopped the practice, it scanned the content of private messages sent between users for links to websites, which were then used for delivering targeted advertising. The complaint alleges that this violated the federal and state privacy laws by 'reading its users' personal (and) private Facebook messages without their consent. Facebook had argued that the practice was covered by an exception under the federal Electronics Communications Privacy Act, and that it disclosed to users that it may use the information the company received for 'data analysis'. But Hamilton said the company had 'not offered a sufficient explanation of how the challenged practice falls within the ordinary court of business', and that the disclosure was not specific enough to establish that users expressly consented to the scanning of the content of their messages. Facebook's unwillingness to offer any details regarding its targeted advertising practice prevents the court from being able to determine whether the specific practice challenged in this case should be considered 'ordinary. Campbell, Hurley and an additional plaintiff, David Shadpour, seek class-action status on behalf of U.S. users who sent or received private messages that included links to websites.

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