May 2007: Facebook launches Platform, a system that allowed outside programmers develop tools for sharing photos, taking quizzes and playing games. It also announced a number of third party applications will also be announced, including Microsoft, Amazon, Slide, RockYou, Box.net, Red Bull, Washington Post, Project Agape, Prosper, Snapvine, iLike, PicksPal, Digg, Plum and others. Applications served their own ads and/or conduct transactions with users.
October 2007: Microsoft said it will invest $240 million for a minority 1.6 per cent stake in Facebook, a price that values the social networking site at $15 billion. Under the terms of the agreement, Microsoft will be the exclusive advertising platform for Facebook.
November 2007: Facebook unveils its Beacon program, a feature that broadcasts people's activities on dozens of outside sites. Yet another privacy backlash leads Facebook to give people more control over Beacon, before Facebook ultimately scraps it as part of a legal settlement.
