Facebook was launched in February 4, 2004, though at the time it was only open to college students and was called "The Facebook".
The site was started by Harvard student Mark Zuckerberg, who had previously thrown out for creating an application called Facemash. Zuckerberg founded it with the help of Eduardo Saverin doing the business aspects, Dustin Moskovitz as programmer, Chris Hughes as promoter, and Andrew McCollum as graphic designer.
Facebook was incorporated in mid-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, and 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.