Its just few hours before the social network king Facebook Inc. goes officially public and indeed become the PUBLIC network. Its Friday, May 18th and MarK "Moneyberg" is on the verge of launching the new face of Facebook into the stock Markets and for the first time, open the company to the wide view of the public's and government eyes.The stock is scheduled to start trading tomorrow on the Nasdaq Stock Market under the symbol FB.
Now take a good look at this: Facebook IPO Makes Zuckerberg Richer Than Google Founders. Sure Sergey Brin and Larry page would not like this. Facebook Inc. raised $16 billion in the biggest initial public offering by a technology company in history, pricing the shares at the top end of an increased range. The social network sold 421.2 million shares at $38 each, according to an Official statement. That values Facebook at $104.2 billion, making it the largest company to go public in the U.S. by market capitalization, according to data compiled by Bloomberg and Dealogic.
Facebook, led by 28-year-old young Billionaire Mark Zuckerberg, this week expanded the IPO to meet demand, allowing investors Goldman Sachs Group Inc. and Accel Partners to reap more gains.The offering marks the culmination of Facebook’s evolution in less than a decade from a Harvard University dorm-room play-project into a social network averaging more than 900 million users daily. Everyone does indeed want a piece of Facebook. And watch out, the IPO is creating millionaires and Billionaires overnight.At $16 billion, Facebook’s debut surpasses that of General Motors Co., making it the second-largest in U.S. history, excluding so-called over-allotments, which let underwriters buy more shares at a later date, data compiled by Bloomberg show.