Can Anything Take Down the Facebook Juggernaut? Illustration: Mister Mourao Sometime in early 2004, as Mark Zuckerberg was furiously coding the first iterations of The Facebook in his Harvard dorm room, the Internet passed what then seemed to be an impressive milestone: 750 million people worldwide had become connected.
The exact birthdate of the Internet is difficult to pin down, but it’s fair to say that it took at least three decades for the net to reach a population of that size. Today, after just eight years in existence, Facebook now has more than 750 million users all by itself. At that astonishing rate of growth, the company is on track to accomplish much more than just a multibillion-dollar IPO.
Facebook is on the cusp of becoming a medium unto itself—more akin to television as a whole than a single network, and more like the entire web than just one online destination. Facebook IPO verdict: It doesn't matter how you look at it, we are being farmed - but humans are NOT balance sheets - Fleet Street Fox. Have you ever wondered what you're worth?
I don't mean those bleak moments when you've screwed up and feel like an idiot, or when you've been dumped by somebody and feel fat and unloved. I mean what you're worth in cold, hard cash on the open market. With me, it's mainly all debt; it's a mortgage and an unreasonable number of shoes. Or at least that's how it feels on the occasions I stop to think about it. The problem is that other people think about what I'm worth all the time, and they've put a price on my head. Because for the first time ever, human beings are being traded on the stock market. Whether you use Faceache or not to keep in touch with your friends, that is basically valuing a pile of binary code all about an individual - who they are, how they interact with their friends, their email address and computer details - at £11.21. Investors brace for Facebook debut on Wall Street. SAN FRANCISCO (Reuters) - The historic initial public offering of Facebook Inc did not go as planned on Friday, as the social networking company's sky-high valuation combined with trading glitches left the stock languishing near its offering price at the market close.
Facebook shares, which opened up 11 percent, closed at $38.23 after a nail-biting last half hour of trading when the shares dipped to their $38 IPO price. Most investors had predicted a first-day pop. More than 576 million shares changed hands, setting a trading volume record for U.S. market debuts. The company had priced its IPO at the top end of its target range and increased the size of the offering, becoming the first U.S. company to go public with a valuation greater than $100 billion. The area outside Facebook's offices was packed with throngs of photographers, more than a dozen television trucks, and a TV news helicopter hovering overhead. "You want to price the offering correctly. It's a Facebook backlash. Wow, that was quick! Dear Facebook: America is over you and your hot IPO.
Already. We're a fickle bunch. Half of us think you're a fad, particularly the older folks, according to a poll from the Associated Press and CNBC. General Motors just announced it was going to stop advertising with you because it couldn't see how its Facebook ads were being effective. I mean, seriously, who does that? Yes, we know that younger people, the Facebook generation that has been with you since you started, are far more likely to think you're the real deal, according to that poll.
Facebook shares lacklustre in early trading. Shares in the social networking website Facebook made their debut on Friday and did not get the expected bounce.
They floated after founder and chief executive Mark Zuckerberg rang the opening bell for the Nasdaq exchange remotely from the company’s headquarters in Silicon Valley. It is the third-largest initial public offering of shares in US history behind General Motors and Visa. Valued at over 100 billion dollars – more than 80 billion euros – Facebook is worth more than Deutsche Bank, BMW and Adidas together. The shares finally started trading much later than expected at 17.30 Central European Time, and immediately jumped from $38 to $45 – an 18 percent increased, but within half an hour the enthusiasm seemed to ebb and the price slipped back to $38 before picking up a bit in early afternoon trade.
The financial and internet worlds are watching with interest. One analyst, Max Wolff with Greencrest Capital, said: “This is all about the future, so it really is a lottery ticket.” FB now a $100 bn company; investors 'like' Facebook shares. PTI May 18, 2012, 11.48PM IST.
Facebook IPO: Live Updates On FB's Big Day. Share + Facebook has just purchased mobile gifting service Karma.
"The service that Karma provides will continue to operate in full force," wrote Karma co-founders Karma Co-founders Lee & Ben. "By combining the incredible passion of our community with Facebook’s platform we can delight users in new and meaningful ways. As we say … only good things will follow. " More here. FACEBOOK EMPLOYEES CELEBRATE: This Is What Brand New Millionaires And Billionaires Look Like. The Four Best Listicles About The Facebook IPO.