Accel Partners’ $13 million investment
In May 2005, the New York Times ran an article in its "small business" section about a young social site called Thefacebook.com that had gained 2.8 million registered users across 800 college campuses in about 16 months. The $13 million investment that this growth had attracted from investment firm Accel Partners was just a sign of things to come, as the Times quite accurately predicted.
"Five years after the Internet bubble burst, a new generation of Web start-ups is quietly attracting investment capital. Thefacebook.com typifies the breed: a company that is built on substance rather than high expectations."