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Breaking News

BREAKING NEWS: A federal appeals court rules 2-1 that subsidies that helped people buy insurance at healthcare.gov are illegal.

WASHINGTON (Reuters) - A U.S. appeals court on Tuesday threw out a federal regulation that implements key subsidies that are vital to President Barack Obama's healthcare overhaul. The U.S. Court of Appeals for the District of Columbia Circuit accepted one of the main legal challenges to the policy by conservatives opposed to an expansion of the federal government. A three-judge panel returned the case to a lower court with instructions to rule in favor of appellants who had sued to overturn t...

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Factbox: The world's largest social network

An employee writes a note on the message board at the new headquarters of Facebook in Menlo Park
An employee writes a note on the message board at the new headquarters of Facebook in Menlo Park

SAN FRANCISCO (Reuters) - Facebook filed on Wednesday to raise a targeted $5 billion in a hotly anticipated initial public offering, setting the stage for Silicon Valley's biggest-ever IPO. Here are some key facts about the company:

Founded: 2004

Original name: thefacebook.com

Headquarters: Menlo Park

Employees: 3,200 as of December 31, 2011

Revenue: $3.71 billion in 2011

Founder and CEO: Mark Zuckerberg

Earliest investors: PayPal co-founder Peter Thiel invested $500,000 in 2004, followed by Accel Partners, which invested $12.7 million in 2005

Biggest stakeholder: Mark Zuckerberg, who holds a 56.9 pre-IPO voting stake Other top stakeholders: Greylock Partners, Meritech Capital Partners, DigitalSky Technologies; entrepreneurs Reid Hoffman, Mark Pincus, Sean Parker

Number of users: 845 million active monthly users worldwide, including 161 million active monthly users in the United States

Average time spent on Facebook: Worldwide users spend about 6 hours a month; 7 hours in United States

(Reporting by Sarah McBride; Editing by Gary Hill)