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1.
(v) to take someone else's (or a brands) Facebook username as your vanity URL thus 'squatting' on their username

(term only applicable if the username is nothing close to your own name/brand)

(n) a person who partakes in the act of facesquatting
Someone else took the vanity URL I wanted, so I decided to Facesquatt on my friend's name.

See Facebook.com/Obiefernandez (Mike Pence's Facebook page)
by CaliErin June 14, 2009