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Thursday, May 17, 2012

Facebook IPO

FACEBOOK FOR SALE: Facebook priced its IPO at $38 per share, which would value the social media giant at $104 billion, the highest value for any American company going public. The social network giant’s shares will begin trading tomorrow morning on the NASDAQ stock market under the ticker symbol "FB." Facebook will sell 180 million shares in the offering, while co-founder/CEO Mark Zuckerberg and many of the company's early backers will put another 241.2 million shares for sale. Zuckerberg will instantly become a multi-billionaire, with the value of his remaining Facebook stake at about $19.1 billion. Will this be a MySpace-style disaster or a windfall for savvy investors? Insiders say Facebook’s relative clunkiness on mobile devices could be a a detriment to the kind of long-term growth they promise. (5/17p)

 
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