This is the much anticipated event of the year thus far. Facebook has gone public and everyone wants to get a piece of this addictive social site (including me!). The IPO price was set to $38 jumped to $43 in initial trading, and decreased now was decreased to $39 per share.
At $38 a share, the offering values the eight-year-old company at $104 billion, making its IPO the largest-ever stock market debut for an Internet company. It will raise more than $16 billion for Facebook and selling shareholders, including Zuckerberg, and ultimately could raise up to $18.4 billion, assuming underwriters exercise their option for “overallotments” to meet strong demand. –msnbc.com
As an avid Facebook user and a residence is Silicon Valley, this is really something exciting. Now I have instant millionaires living within proximity of my home. The real estate market and auto dealers are for sure going on a frenzy when Facebook employees are ready to make bigger purchases to satisfy their new accomplishment. If there’s any Facebook employees reading this, you soon-to-be-millionaires should take heed and read this article from Mashable before doing something drastic!
As for the rest of us, we can’t help but to stay outside the looking glass and watch them enjoy this moment for them.