Peter Thiel provided the initial investment to help launch Facebook.
The platform, initially known as Thefacebook.com, received its first significant financial backing from Peter Thiel, a co-founder of PayPal. This crucial investment amounted to US$500,000, playing a vital role in the early development and expansion of the social network.
The Genesis of Facebook's Funding
When Mark Zuckerberg launched Facebook (then Thefacebook) as an exclusive social network for Harvard students, he was joined by a core group to formalize its operations. The foundational entity, Thefacebook.com LLC, was established as a partnership involving Mark Zuckerberg, Dustin Moskovitz, and Eduardo Saverin. It was this fledgling company that secured the inaugural investment from Peter Thiel, providing the necessary capital to scale operations beyond its initial university confines.
Key Early Contributions to Facebook's Foundation
The early days of Facebook were characterized by a blend of entrepreneurial spirit and strategic financial support.
- Mark Zuckerberg: The visionary founder, responsible for conceiving and developing the initial platform.
- Dustin Moskovitz: A co-founder who helped establish Thefacebook.com LLC and scale its operations.
- Eduardo Saverin: Another co-founder of Thefacebook.com LLC, involved in the business aspects during the early stages.
- Peter Thiel: The first external investor, whose US$500,000 investment was instrumental in providing the financial foundation for the company's growth.
This initial funding was a turning point, allowing the platform to grow from a Harvard-exclusive network into the global phenomenon it would eventually become.
| Key Individual | Role in Early Facebook | Contribution |
|---|---|---|
| Peter Thiel | First Investor | US$500,000 |
| Mark Zuckerberg | Founder | Platform Development, Partnership |
| Dustin Moskovitz | Co-founder | Partnership, Operations |
| Eduardo Saverin | Co-founder | Partnership, Business |
