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Mark Zuckerberg Rings NASDAQ Bell; Facebook Third Largest IPO Opening in History

Discussion in 'Android News' started by dgstorm, May 18, 2012.

  1. dgstorm
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    dgstorm Editor in Chief Staff Member Premium Member

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    [​IMG]

    The big news of the day is now officially out. Facebook's IPO was launched and priced out at $38, with a valuation set at $104 billion. Mark Zuckerberg himself rang the NASDAQ bell to start the trading day off with the big announcement. But, of course, he and the rest of his team at Facebook couldn't just do it the old fashioned way. They are code-junkies and hackers, after-all. So, they did things a little differently. One was pretty simple. Without a word, he rang the bell remotely from his company's headquarters (normally new IPO's will go to New York to ring it in person, although not always, so he was not the first to do this). Second, and this it where things get more interesting... beforehand, his team of engineers at the HQ found a way to hack the remote NASDAQ button, so that at the exact moment he hit the button to ring the bell, it would post the story to his Facebook timeline to let his friends and subscribers know. Here's a quote from the TechCrunch article with a few details,

    The hack was successful. The IPO went off without a hitch, breaking several records. And the rest, as they say, is history...

    [​IMG]

    Here's the full official press release for the IPO:

  2. akhenax
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    akhenax Well-Known Member

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    Get that paper Mark. Now if I only had 10 Grand lying around, I would by a few hundred stocks and just wait...to be rich B!@#
  3. Shadez
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    Shadez Super Mod/News Team Staff Member Premium Member

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    Ok so I went to that Ancestry site, and no luck, not related to any Zuckerbergs... oh well ..back to work :)
  4. MissionImprobable
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    MissionImprobable New Member

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    1 person likes this.
  5. Immolate
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    Immolate New Member

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    The IPO did not go off without a hitch. It was delayed due to technical difficulties. Also, the stock closed at the same $38 price that it opened for, which means zero pop for the investors. That doesn't mean it won't perform later on, but I'd say the IPO was a big disappointment.
  6. MissionImprobable
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    MissionImprobable New Member

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    Sorry, couldn't help it =p
  7. woodsie
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    woodsie New Member

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    I honestly don't know what people were expecting. The offer price of $38 per share gave the company a value of $104 Billion on day 1. That puts Facebook in the same ballpark as IBM, Google, Microsoft, and ExxonMobil...which is absolutely rediculous at this stage and the reason there was just about zero upside potential.

    Any idiot jumping on this turkey either knew that fact or was willfully ignorant of it. For those of us who were there as investors for the late 90's dotcom bubble this is no surprise.

    Facebook might (big might) be able to monetize their business model without alienating their userbase and eventually be worthy of a 12 digit valuation in the future but it is far from a foregone conclusion.
  8. Narsil
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    Narsil Active Member

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    It's currently at $33.20 per share...

    ...down almost 13%

    The only people who made money off of this steaming "investment" were Zuckerburg and his cronies. I'm glad I let that IPO slip by.

    I do wish, however, that I'd had some money to invest at Google's IPO. :mad:
  9. Shadez
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    Shadez Super Mod/News Team Staff Member Premium Member

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    Actually Zuckerberg lost $2 bill .. but still has 17 Billion.
  10. Skull One
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    Skull One New Member

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    Zuckerberg's loss is on paper only. Until he actually sells some of his remaining stock there is now realized gains or losses at this time. Hopefully his CPA knows his stuff and properly advise Zuckerberg on how much stock to sell to offset any realized gains from the investors and IPO backers so he takes a net zero tax hit this year.
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