With an opening price of $42 per share, Facebook was expected to make a splash on the NASDAQ stock exchange on Friday when trading began following its IPO, with analysts predicting a ‘pop’ to take the price into the upper $40s or even $50s in its first day. Well, it didn’t quite happen: Facebook closed its first day of trading at $38.37, and that reportedly after some of its biggest investors stepped in to prop up the price and stop it falling between the company’s original $38 offering price. Even so, Facebook closed the day with a valuation of just over $105bn, making it worth more than Amazon ($96bn), Disney ($78bn), McDonald’s ($91bn) and Volkswagen ($70bn). Oh, and in other news, U2’s Bono didn’t make $1.5bn from the IPO – his share through VC firm Elevation Partners is more like $10m.
Source: VentureBeat
Source: Mashable
Source: Billboard
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