The problem of information overload on Facebook is exacerbating as users expand their networks. Growing quantity and increasingly poor quality of information on the Newsfeed may interfere with the hedonic experience of users resulting in frustration and dissatisfaction. In the long run, such developments threaten to undermine sustainability of the platform. To address these issues, our study adopts a grounded theory approach to explore the phenomenon of information overload on Facebook. We investigate main sources of information overload, identify strategies users adopt to deal with it as well as possible consequences. In-depth analysis of the phenomenon allows us to uncover individual peculiarities for identification of relevant information. Based on them we provide valuable recommendations for network providers.