Something is going very right at the world’s social network. At least according to Wall Street.
A year ago today, CEO Mark Zuckerberg “rang the bell” to open trading in one of the most hotly-anticipated initial public offerings in history as Facebook hit the stock market. And promptly went splat.
“In this world, nothing can be said to be certain except Facebook and taxes.”
This was Facebook’s year, with 1 billion users and an IPO. For many of the its first employees, it was the stuff dreams are made of — until reality set in.
SurveyMonkey reveals how twenty-somethings hold their own views on the events that rocked the tech industry in 2012.
It’s not just share prices and capital gains — Facebook’s new crop of millionaires have a lot on their minds.
TechCrunch played middleman in a Facebook IPO-related legal matter that ended with underwriter Citigroup being hit with a $2 million fine, and the firm firing a top analyst.
Facebook stock is trading at a new low: $18 and scant change at the time of this writing. We place the blame on analysts, which dealt the struggling social network a double whammy downgrade to expectations of its revenue and target stock price.
Less than two weeks after Facebook’s stock price hit a low of $20.84 comes the reminder that about two billion more shares will hit the market between now and May, 2013.
Editor's Pick There’s been a ton of coverage about the Facebook IPO disaster, but very little of it looks at the crucial point two weeks ago where things went terribly wrong. It’s becoming increasingly clear that Facebook itself made a strategic blunder at that juncture.
One day after admitting it screwed up, Nasdaq is planning to make things right with investors who lost money over trading glitches during the Facebook IPO. Nasdaq is planning to spend $13 million to make amends for bad trades that weren’t processed, reports the Wall Street Journal.
The all-computer run NASDAQ could be to blame for a lack of a Facebook stock pop Friday, when the social network started its first day of trading. Orders flooded in for the stock, but overwhelmed computers and glitches slowed trading down because stock orders couldn’t be processed, leaving investors wonder if their orders had gone through. If Facebook had gone with the New York Stock exchange, where there are redundant backup systems, it might have been a different story.
[vimeo 42433923 w=640 h=360] Hoo boy, anything tech-related that happened over this past week was dwarfed into oblivion by Facebook’s IPO.
Mark Zuckerberg and his current employees aren’t the only ones making it big in Silicon Valley today. Former Facebook employees who have struck out on their own and started companies — referred to as the Facebook Mafia — have collectively raised a total of $271 million in funding since 2006, according to a report from venture capital database CB Insights.
Zynga shares halted as Facebook opens for trading.
Facebook began trading on the public markets for the first time today, and at the company’s headquarters in Menlo Park, Calif., excitement levels were high. Here’s a look inside.