Initial Public Offer (IPO) of social Networking monster FACEBOOK Is launched On friday.Company's shares will be sold for the first time ever on the Nasdaq Stock Market.
- According to regulatory filing, Facebook is aiming for a market value of as much as $96 billion and is offering shares at $28 to $35 each for its IPO
- Facebook is expecting investors to pay 99 times earnings for its (IPO). The Menlo Park, California-based company is expecting to meet investors next week and will price the offering on May 17.
- At the higher proposed valuation, the company will be valued higher than many firms in the S&P 500.
- Facebook is aiming to raise about $5 billion through the issue, which makes it the biggest IPO by an internet firm ever in silicon valley.
Mark Zuckerberg Words on this topic
- "Simply put: we don't build services to make money; we make money to build better services. And we think this is a good way to build something. These days I think more and more people want to use services from companies that believe in something beyond simply maximizing profits,"
No comments:
Post a Comment