Tag Archives: Wall Street
Facebook must change after IPO
Priced at $38 a share on Thursday, the 8-year-old social-networking company, fronted by hoodie-wearing CEO Mark Zuckerberg, could raise $16 billion in funding, not including an overallotment option. It could end its first day of trading worth up to $104 billion. That would make it worth more than Disney, Ford and Kraft Foods. It would be the second-largest U.S.-listed IPO behind only Visa. Facebook’s market debut, the biggest tech company IPO ever, should create 1,000 millionaires overnight.
The mega-offering signals a seminal event in the Internet’s maturation as a fundamental cog in the world economy, says Dave Morin, CEO of Path, a social network of 3 million and a former Facebook executive. “It sets the tone for long-term, product-driven Internet companies,” he says.
Facebook prices its IPO at $38, could raise $16 billion
Priced at $38 a share on Thursday, the 8-year-old social-networking company, fronted by hoodie-wearing CEO Mark Zuckerberg, could raise $16 billion in funding, not including an overallotment option. It could end its first day of trading worth up to $104 billion. That would make it worth more than Disney, Ford and Kraft Foods. It would be the second-largest U.S.-listed IPO behind only Visa. Facebook’s market debut, the biggest tech company IPO ever, should create 1,000 millionaires overnight.
The mega-offering signals a seminal event in the Internet’s maturation as a fundamental cog in the world economy, says Dave Morin, CEO of Path, a social network of 3 million and a former Facebook executive. “It sets the tone for long-term, product-driven Internet companies,” he says.
How you help FB make billions
.cnn_html_media_utility::before{color:red;content:’>>’;font-size:9px;line-height:12px;padding-right:1px}
.cnnstrylccimg640{margin:0 27px 14px 0}
.captionText{filter:alpha(opacity=100);opacity:1}
.cnn_html_slideshow_media_caption a,.cnn_html_slideshow_media_caption a:visited,.cnn_html_slideshow_media_caption a:link,.captionText a,.captionText a:visited,.captiontext a:link{color:outline:medium none}
.cnnVerticalGalleryPhoto{margin:0 auto;padding-right:68px;width:270px}
]]>
It all began in a Harvard dorm room in 2004. Mark Zuckerberg and fellow students Dustin Moskovitz, Chris Hughes and Eduardo Saverin start what then was known as Thefacebook. The social-networking site spreads to other Ivy League universities the next month.
Article source: http://rss.cnn.com/~r/rss/edition_technology/~3/eJPMEtUWkHU/index.html
Will Facebook lose its edge after IPO?
Editor’s note: Douglas Rushkoff writes a regular column for CNN.com. He is a media theorist and the author of “Program or Be Programmed: Ten Commands for a Digital Age” and “Life Inc: How Corporatism Conquered the World and How We Can Take It Back.”
(CNN) — Facebook advocates are touting the company’s initial public offering this week — the biggest ever for an Internet company– as if it will save the net, the economy and the American way. Its detractors see the final chapter in the rise and fall of a smart but solipsistic Harvard dropout, and predict the inevitable decline of Facebook’s stock will spell the end to innovation in social media. Internet Bubble 2.0.
Of course, none
Article source: http://rss.cnn.com/~r/rss/edition_technology/~3/9UGUYfwBZeM/index.html
Zuckerberg’s hoodie bugs Wall Street
(CNN) — Facebook has raked in billions and will make a splash when its stock hits the open market next week. So, what are folks on Wall Street concerned about?
Mark Zuckerberg’s hoodie, apparently.
Michael Pachter, an analyst for Wedbush Securities, told Bloomberg that the Facebook CEO’s decision to show up for a meeting with potential investors dressed down in his trademark casual outerwear suggests that he’s too immature to run a massive corporation.
“He’s actually showing investors he doesn’t care that much; he’s going to be him,” Pachter said in an interview on Bloomberg TV. “I think that’s a mark of immaturity.
