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Facebook Announces Pricing of Initial Public Offering

 3:09 am on May 18, 2012 (gmt 0)

Facebook Announces Pricing of Initial Public Offering [newsroom.fb.com]

Facebook (NASDAQ: FB) today announced the pricing of its initial public offering of 421,233,615 shares of its common stock at a price to the public of $38 per share.



 3:53 am on May 18, 2012 (gmt 0)

Facebook's popularity, profitability, and valuation, continue to invigorate my complete disdain for humanity.


 4:32 am on May 18, 2012 (gmt 0)

I foresee a sugar rush followed by serious withdrawals.



 4:36 am on May 18, 2012 (gmt 0)

It's just high-tech tulip mania.


 6:27 am on May 18, 2012 (gmt 0)

At the great risk of possibly incurring our Mods deep displeasure, I would exhort fellow readers to Google:

Andy Borowitz+"A Letter from Mark Zuckerberg"

Says it all for me.


 6:30 am on May 18, 2012 (gmt 0)

The business model of facebook is on large parts based on breaking privacy laws. At least here in Europe. The day the authorities finally wake up and enforce the laws, Facebook will be in deep trouble. This must be the first IPO were the value of the company is based in large parts on "stolen goods" - the goods in this case being information collected by breaking laws and storing information they are not allowed to store.


 6:36 am on May 18, 2012 (gmt 0)

It's just high-tech tulip mania

Wish I'd thought of that first Bill.


 8:30 am on May 18, 2012 (gmt 0)

The biggest problem I have with the entire facebook saga is that it has set the status quo of aggregating people's real information, watching them as if they are in a glass bowl, and setting up schemes to make money from them using that data(and by enticing your friends and family).

Other companies are of course trying to gather that information too so that they may cash in and privacy becomes roadkill since nobody seems to care. Zuckerberg himself has stated that the age of privacy is over.

I grew up without email or cell phones or Facebook, as did several of you, and I can honestly say I don't think this is better. Most kids born today will never know that world so this privacy vs profit issue better get solved right quick.


 9:05 am on May 18, 2012 (gmt 0)

Dot.Bomb 2.0 - wonder if this will be the trigger? :)



 1:09 pm on May 18, 2012 (gmt 0)

Mark will get richer..in a few months time many people who did not realise that their money or pension fund was being "invested" in this will be told that they have to take a bath..

Also.. everything jecasc said applies..


 2:46 pm on May 18, 2012 (gmt 0)

The valuation numbers here are out of control and bordering on what I would call irresponsible. They go against every bit of math the business rules say. I don't think they are worth more than McDonalds, Disney, etc and other companies that have and will outlive FB by decades. FB can easily get wiped out by a simple mistake in trust or just the next popular thing. Silly.


 3:38 pm on May 18, 2012 (gmt 0)

Reminds me of how well that purchase of MySpace went for Rupert Murdoch.


 4:32 pm on May 18, 2012 (gmt 0)

Apparently the price of the stock is falling way below what the hype-masters had expected, it has traded as low as the opening price of $38, even after some in Europe paid as much as $74 a share.


 7:09 pm on May 18, 2012 (gmt 0)

@Sgt_Kickaxe I think you are correct - everyone younger than me just says 'so...' when I point out the info they give away.

I guess we can see a spate of privacy law actions soon now they have the cash.

Price went down, underwriters buy the stock to keep the price up so they don't get burned.


 2:41 am on May 19, 2012 (gmt 0)

Opening bell price of first day of IPO: $38.00
Closing bell price on first day of IPO: $38.23

I figured it would have gone lower.

Looks like "market forces" made sure it didn't.

FB tumbled and hit its offering price of $38. The shares almost certainly would have gone lower, but the banks that put the deal together stepped in to prop up the share price.


The answer to why anyone even bought Facebook (FB) stock is about the same reason Zuckerberg gave for why people would voluntarily add their personal information to the site --

Zuck: Yeah so if you ever need info about anyone at Harvard

Zuck: Just ask.

Zuck: I have over 4,000 emails, pictures, addresses, SNS

[Redacted Friend's Name]: What? How'd you manage that one?

Zuck: People just submitted it.

Zuck: I don't know why.

Zuck: They "trust me"

Zuck: Dumb f**ks



 3:16 am on May 19, 2012 (gmt 0)

Zuck: They "trust me"
Zuck: Dumb f**ks

Sorry to go off topic, but in regards to lexipixel's post, I once heard facebook was actually conceived by the government to gather information as people were more willing to share information when they think the government is not involved. facebook a.k.a. Big Brother. Think about it;)



 6:12 am on May 19, 2012 (gmt 0)

Facebook You Listening? Let's get that stock price up! -- FacebookSense, I got AD space...


 3:56 pm on May 19, 2012 (gmt 0)

The whole situation makes me think of the World Online IPO in 2000 when the dotcom bubble bursted. An unrealistic stock price compared to turnover and profit, initial investors selling their stock on the first day and a stock price after one day trading equal to the initial stock price.

The World Online IPO marked the start of the dotcom bubble burst. Let's hope that the Facebook IPO doesn't initiate a second market collapse.


 7:57 pm on May 19, 2012 (gmt 0)

Venture capital firm Accel Partners, based in Palo Alto, California, planned to offer 49 million shares in the initial sale, while Goldman Sachs aimed to sell 28.7 million, according to terms Facebook disclosed this week. Digital Sky Technologies planned to sell 45.7 million shares, and Tiger Global Management planned to sell 23.4 million shares.

Facebook executives and directors planned to sell 189.4 million shares.


Sounds like "cashing out" to me.

I don't own any FB stock, have no financial interest in the company, (other then hoping it goes down the toilet where it belongs), so my prediction is $36.84 at 4:00pm EST Monday, May 21, 2012.


 9:09 am on May 21, 2012 (gmt 0)

At last the BBC appears to be "getting a clue"..re facebook..

As Mark's honeymoon begins ..the signs are that the tech journo' world is coming to the end of their honeymoon with facebook..


 8:42 pm on May 21, 2012 (gmt 0)

I was being conservative -- I really did think it would go even lower than my prediction, but here's the end of second day of trading:

34.03 -4.20 (-10.99%)
After Hours: 33.85 -0.18 (-0.53%)
May 21, 4:37PM EDT

And the winners are: FB execs, early investors and others who sold off shares Friday.

And the losers are: Everyone else!


 9:29 pm on May 21, 2012 (gmt 0)

Is air leaking from the Facebook bubble?
On Saturday, Mark Zuckerberg updated his status to "married", as he wed Priscilla Chan in a surprise ceremony at his Palo Alto home ............ But, hey Mark, why did you not do what you tell the rest of us to do, and share your plans with your Facebook friends a few months ago?


Hopefully the millions of shares bought Friday were purchased by many small investors buying only a couple thousand dollars worth of stock each and those investors will be able to recoup most of their "investment" selling at a loss tomorrow -- and learn their lesson quickly and inexpensively.

My prediction for Tuesday, May 22, 2012 -- FB at approx. $30.00 at 4:00pm EST.`


 6:23 am on May 22, 2012 (gmt 0)

Well, all who have lost money on facebook shares have only themselves to blame. I don't think anybody really believed Facebook was worth the money. I guess most buyers believed in a one week hype and hoped to sell at the right time. Too bad the hype lasted only a few hours...


 8:52 pm on May 22, 2012 (gmt 0)

31.12 -2.91 (-8.55)
May 22, 4:00pm

After Hours:
30.80 -0.32 (-1.03%)

...another approx. 10% of the valuation gone on day #3 of trading.


 3:59 am on May 23, 2012 (gmt 0)

Revised after hours for May 22,
30.50 -0.50 (-1.61%)

My prediction for Wednesday, May 23, 2012 -- FB at approx. $26.85 at 4:00pm EST.


 10:37 pm on May 23, 2012 (gmt 0)

32.00 +1.00 (3.23%)
May 23 4:00pm ET

After Hours:
32.40 +0.40 (1.25%)

...I guess there are more stupid people in the world than I estimated.


 10:52 pm on May 23, 2012 (gmt 0)

Goldmans and their 'friends" have much in common with the Hydra..and with magicians and illusionists..

Win or lose ..they will win..and thus why would they not breath fake life into the beast..not all the marks have yet laid their money down..nor had it "invested" for them by those who will win non returnable commissions and bonuses ..merely for having handled the money and shares on behalf of all the "investors" whom they "represent"..


 12:08 am on May 24, 2012 (gmt 0)

breath fake life into the beast

I really though they'd let it slide a bit more today and not attempt resuscitation until tomorrow.

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