A company representative called the milestone a "quiet revolution." In November 2010, based on Second Market Inc.(an exchange for privately held companies' shares), Facebook's value was billion.
The founders had initially limited the website's membership to Harvard students; however, later they expanded it to higher education institutions in the Boston area, the Ivy League schools, and Stanford University.
Facebook gradually added support for students at various other universities, and eventually to high school students as well.
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.
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.
Additionally, users may join common-interest user groups organized by workplace, school, hobbies or other topics, and categorize their friends into lists such as "People From Work" or "Close Friends".
Its popularity has led to prominent media coverage for the company, including significant scrutiny over privacy and the psychological effects it has on users.
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.
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.
Additionally, users can complain about or block unpleasant people.