Facebook IPO
Watch live coverage of the biggest tech IPO in history
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Facebook prices at top of range in landmark IPO
Facebook Inc priced its initial public offering at $38 a share, giving the world's No. 1 online social network a $104 billion valuation in the third largest offering in U.S. history.
The offering puts the eight-year-old company, founded in a Harvard dorm room, a valuation akin to that of Amazon.com Inc, and exceeding that of Hewlett-Packard Co and Dell Inc combined.
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Investors brace for Facebook debut on Wall Street
Investors are bracing for Facebook's Wall Street debut on Friday after the world's No.1 online social network raised about $16 billion in one of the biggest initial public offerings in U.S. history.
Valued at $104 billion, Facebook is larger than Starbucks Corp and Hewlett-Packard combined, sparking intense speculation on how much higher its valuation will rise once shares start trading.
"A 15 to 20 percent pop is in the realm of possibility," said Tim Loughran, a finance professor at the University of Notre Dame. "Given they already moved their IPO range up and increased the size, that's bullish to begin with."
Facebook priced its offering at $38 a share on Thursday, but the price could be higher when shares begin trading under the FB symbol on the Nasdaq at around 11 a.m. Eastern Time.
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Who got Facebook shares? Insight now on Reuters! www.reuters.com -
The folks over at CNN Money tried to buy shares of Facebook. Did they succeed? They posted the process on Tumblr. The fascinating read is here.
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Facebook share flippers risk missing future IPOs reut.rs via @reuters
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Best way to find your way to the Facebook HQ in Menlo Park: just drive towards the news helicopter hovering in the sky.by AlexeiReuters via twitter 5/18/2012 1:04:53 PM -
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Facebook employees high-five each other before entering the company's headquarters in Menlo Park before the company's IPO launch, May 18, 2012. Facebook Inc, will begin trading on the Nasdaq market on Friday, with it's initial public offering at $38 per share, valuing the world's largest social network at more than $100 billion. REUTERS/Beck Diefenbach
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Apparently Facebook is providing valet parking for the press!by AlexeiReuters via twitter 5/18/2012 1:18:57 PM
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Just arrived at Facebook HQ, I.E. Media circus central. By my count there are 12 TV trucks here, not including the news copter.by AlexeiReuters via twitter 5/18/2012 1:21:25 PM
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A man takes a picture of a monitor shows a welcoming message for Facebook's listing on the NASDAQ Marketsite prior to the opening bell in New York May 18, 2012. Facebook Inc, will begin trading on the Nasdaq market on Friday, with it's initial public offering at $38 per share, valuing the world's largest social network at more than $100 billion. REUTERS/Keith Bedford
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US STOCKS SNAPSHOT-WALL ST OPENS HIGHER, FACEBOOK AWAITED
U.S. stocks opened higher on Friday, with the imminent market debut of Facebook helping to lift battered investor sentiment.
Still, major indexes were on track to close their worst week of 2012, pressured largely by the ongoing situation in Europe.
Facebook raised about $16 billion in one of the biggest initial public offerings in U.S. history, pricing its offering at $38 a share on Thursday. Shares are expected to begin trading around 11 a.m. (1500 GMT).
The Dow Jones industrial average was up 23.54 points, or 0.19 percent, at 12,466.03. The Standard & Poor's 500 Index was up 2.74 points, or 0.21 percent, at 1,307.60. The Nasdaq Composite Index was up 7.68 points, or 0.27 percent, at 2,821.37. -
Antennas sprouting up into the morning sky at Facebook HQ: p.twimg.com
by AlexeiReuters via twitter 5/18/2012 1:37:06 PM -
No signs of Zuck yet outside Facebook HQ, but the helicopters above are multiplying - there are now 2!by AlexeiReuters via twitter 5/18/2012 1:41:39 PM
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First trickle of cars starting to drive out of FB employee parking area; the hackathon must be finished...by AlexeiReuters via twitter 5/18/2012 1:45:27 PM
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Wonder if these tables are a clue that Facebook might feed the hungry press gathered in its parking lot: p.twimg.com
by AlexeiReuters via twitter 5/18/2012 1:48:02 PM -
All the facebook employees driving by the throng of reporters have their windows closed...by AlexeiReuters via twitter 5/18/2012 1:50:13 PM
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Lots of Lexus, Mercedes and BMWs coming out of FB employee pkng lot, but also Hondas --- that won't be the case much longer.by AlexeiReuters via twitter 5/18/2012 1:53:33 PM
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Facebook Inc. CEO Mark Zuckerberg is seen on a screen televised from their headquarters in Menlo Park moments after their IPO launch in New York May 18, 2012. Facebook Inc, began trading on the Nasdaq market on Friday, with its initial public offering at $38 a share, giving the world's No. 1 online social network a $104 billion valuation in the third largest offering in U.S. history. REUTERS/Shannon Stapleton
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A case for why Facebook is overvalued.
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Mark Zuckerberg's letter to potential investors.
"We have already helped more than 800 million people map out more than 100 billion connections so far, and our goal is to help this rewiring accelerate.
We hope to improve how people connect to businesses and the economy.
We think a more open and connected world will help create a stronger economy with more authentic businesses that build better products and services.
As people share more, they have access to more opinions from the people they trust about the products and services they use. This makes it easier to discover the best products and improve the quality and efficiency of their lives." -
Insight: Who got Facebook IPO shares? Fairness may not come into it
Facebook raised about $16 billion on Thursday by selling roughly 421 million shares at $38 each. That is approximately half a share for each of its 900 million active monthly users.
It may end up raising even more, bringing the total to $18.4 billion, if an option for underwriters is exercised.
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Actually happy to see Zuckerberg wear his trademark hoodie to ring the bell..money ain't going to change him!by Peter Lauria via twitter 5/18/2012 2:32:27 PM -
No execs or coffee from FB for reporters outside HQ. But @dmac1 gets props for distributing a box o' donuts to everyone!by AlexeiReuters via twitter 5/18/2012 2:35:14 PM
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Kerry visits Oman for arms deal, talks on Syria, Mideast
MUSCAT - Secretary of State John Kerry flew to Oman on Tuesday for Raytheon Co's signing of an estimated $2.1 billion arms deal and to consult on Syria and Iran, U.S. officials said.
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