For a period of time yesterday, Facebook's value topped $102 billion when 150,000 of the company's Class B common stock traded at $44 each in a private auction hosted by SharesPost. As of this morning, Facebook shares are trading at $42 each in the private market, valuing the social networking site at a slightly less obscene $97.9 billion.
There is a lot of buzz around Facebook’s upcoming IPO. According to some reports, the IPO could create over a 1,000 fresh millionaires, including some highly unlikely ones like graffiti artist David Choe who reluctantly chose to receive Facebook stock in return for a paint job a few years back. That decision is expected to make him richer by as much as $200 million, and consequently a subject of envy far and wide, come Facebook IPO day. But not everyone likes to begrudge accidental millionaires like Choe their unexpected windfalls. There is no dearth of those who believe in creating their own windfall. Marianne Oleson, a 46-year-old resident of Oshkosh, Wisconsin, is one such person.
The Facebook IPO is not just long awaited, but one of the most interesting public offerings of our generation. Unlike the countless tech companies that came before it, Facebook doesn’t offer anything tangible; rather it’s simply a platform to help share our private information. This week however we’ve learned ultimately what the market valued this type of service at, and it’s a staggering $75 billion right out of the gate.
Thanks to the wonder of social networking, we're able to catch an early glimpse of PowerColor's upcoming 'LCS HD7970' graphics card. PowerColor posted a photo of the liquid cooled card on its Facebook page with a promise that "Something cool is coming soon!" That "something cool" is a Radeon HD 7970 videocard stripped of its air cooled heatsink and replaced with a single-slot full cover water block from EK Waterblocks.
It’s finally happened — the Facebook IPO is a real thing. No more speculation, no more guess-work. Facebook filed its S-1 registration statement with the U.S. Securities and Exchange Commission this afternoon indicating its intention to go public with an eye toward raising $5 billion from sales of stock based on a $100 billion valuation.
Like it or not, Facebook is getting ready to roll out its mandatory Timeline profile feature en masse. Judging by a recent poll, the majority of users would mash the Dislike button on the new profile format, if only one existed. To be fair, Facebook users have a history of grumbling about every change made to the what remains the world's most popular social network.
Investors have been salivating over the possibilities for years, and according to the Wall Street Journal, the wait is nearly over. Facebook is going to file for its IPO next week with a company valuation of between $75 an $100 billion. Not only will the IPO let people own a piece of Facebook, but this will finally let employees cash out those stock options.
George Hotz, or GeoHot if we're to use one of his more familiar aliases, made a name for himself in the hacking world by creating jailbreak software for Apple's iPhone. But when spotted by BusinessInsider at Backplane, a startup funded by Lady Gaga, he introduced himself as the hacker who was sued by Sony, a distinction he earned after cracking the PlayStation 3's security key. He did not introduce himself as a Facebook employee.
Google+ and Facebook. One is the largest social network in the universe with more than 800 million members, and the other is, well, Google+. If Google's social playground is ever going to truly challenge Mark Zuckerberg's social amusement park, it's going to have to keep its momentum going. So far it's been doing that. Google co-founder and CEO Larry Page announced yesterday evening that Google+ now has more than 90 million users worldwide, over double what he announced just three months ago.
The topic of Facebook becoming a publicly traded entity is increasingly a matter of "when" and not "if," and if we're to focus on the former, the most likely answer is sooner rather than later. Nailing down an exact time frame has been difficult. Mark Zuckerberg isn't exactly approaching an IPO with any sense of urgency, though as competition heats up with Google and its Google+ platform, going public may be more important than he realizes.