Facebook’s IPO Event Receives Mixed Results

Facebook’s IPO Event Receives Mixed Results

Facebook’s IPO kick-off on Friday got off to a promising start, even though it didn’t end as well as some would have hoped. On early Friday, Facebook launched at a reasonable $38 a share, and within just a few hours the shares had already touched an admirable high of $43.20. However, by the end of the day prices had dropped back to their starting price after several more ups and downs.

That doesn’t mean that the world’s largest social media network didn’t come out ahead. Before the day closed, Facebook had raised over $16 billion in shares – the largest IPO on record for an Internet company. Facebook had announced its share price the day before and had already sold 431.1 million shares in the offering, giving it a valuation of 104.1 billion.

Many spectators believe that the price will continue to rise and fall before settling on a number that is slightly higher than its opening price. Currently, Facebook’s stock is .6{7e4ee7cd997d36f6dec43befd6b19c37edf0959bbf61766e988f901dd91e96d7} above the opening price and has held solid for the past 48 hours.

Meanwhile, as Facebook’s debut fell flatter than expectations, Facebook founder Mark Zuckerberg decided to surprise his friends and family with his marriage to his long time girlfriend, Priscilla Chan. The two had been together for nearly a decade and were married at Zuckerberg’s house in Palo Alto, California. They said the event timing was mostly a coincidence; the surprise wedding had been planned for months and the IPO was set only a week or two ago.

 

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