Facebook was founded by Mark Zuckerberg which was originally called as ‘Thefacebook’. He started it as one of his hobby projects when he was at Harvard University. He was able to get some financial help from Eduardo Saverin.
Mark Zuckerberg’s two more friends from Harvard; Dustin Moskovitz & Chris Hughes came in to help him further develop the website. Few months later Zuckerberg and Moskovitz dropped out of Harvard to follow their dreams to run Facebook full time. They changed ‘thefacebook’ to ‘Facebook’ in August 2005 and they registered the domain name facebook.com for a reported $200,000.