Facebook Office

Membership was initially restricted to students of Harvard College, and within the first month, more than half the undergraduate population at Harvard was registered on the service. Eduardo Saverin (business aspects), Dustin Moskovitz (programmer), Andrew McCollum (graphic artist), and Chris Hughes soon joined Zuckerberg to help promote the website. In March 2004, Facebook expanded to Stanford, Columbia, and Yale. This expansion continued when it opened to all Ivy League schools, New York University, MIT, and gradually most universities in Canada and the United States. Facebook incorporated in the summer of 2004 and the entrepreneur Sean Parker, who had been informally advising Zuckerberg, became the company's president. In June 2004, Facebook moved its base of operations to Palo Alto, California. Facebook received its first investment later that month from PayPal co-founder Peter Thiel. The company dropped The from its name after purchasing the domain name facebook.com in 2005 for $200,000.
Facebook launched a high school version in September 2005, which Zuckerberg called the next logical step. At that time, high school networks required an invitation to join. Facebook later expanded membership eligibility to employees of several companies, including Apple Inc. and Microsoft. Facebook was then opened on September 26, 2006, to everyone of ages 13 and older with a valid e-mail address. On October 24, 2007, Microsoft announced that it had purchased a 1.6% share of Facebook for $240 million, giving Facebook a total implied value of around $15 billion. Microsoft's purchase included rights to place international ads on Facebook. In October 2008, Facebook announced that it was to set up its international headquarters in Dublin, Ireland. In September 2009, Facebook claimed that it had turned cash flow positive for the first time. In June 2010, an online marketplace for trading private company stock reflected a valuation of $11.5 billion.