Facebook was founded by former-Harvard student Mark Zuckerberg (while at Harvard) who ran it as one of his hobby projects with some financial help from Eduardo Saverin. Within months, Facebook and its core idea spread across the dorm rooms of Harvard where it was very well received. Soon enough, it was extended to Stanford and Yale where, like Harvard, it was widely endorsed.
Before he knew it, Mark Zuckerberg was joined by two other fellow Harvard-students – Dustin Moskovitz and Chris Hughes – to help him grow the site to the next level. Only months later when it was officially a national student network phenomenon, Zuckerberg and Moskovitz dropped out of Harvard to pursue their dreams and run Facebook full time. In August 2005, thefacebook was officially called Facebook and the domain facebook.com was purchased for a reported $200,000
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