“Mark Zuckerberg listed a company on NASDAQ”-Zuckerberg’s Facebook status on Friday, May 18, 2012

“The thing I really care about is making the world more open and connected.” That was Mark Zuckerberg’s motto behind creating what is now the world’s largest social network. Judy Hasday, author of Facebook and Mark Zuckerberg, wrote that Mark “has always contended that he will stay with the company he founded as long as it is changing people’s lives.” Today, he gets to see his company make history, again.

Today, Facebook shares will be publicly traded for the first time. According to the New York Times, “Facebook is the third biggest initial public offering in U.S. history, but no other market debut has matched the frenzy created by Mark Zuckerberg’s social networking site.”

Facebook employees have been celebrating by hosting an all-night-hack-a-thon at the Facebook offices in Menlo Park, California, Thursday night, according to Forbes.

This morning, when the stock market opened, it was Zuckerberg who rung the bell. The Washington Post reported, “Zuckerberg opened the tech index trading while outside the company’s headquarters… in front of a cheering crowd of Facebook employees on a stage that looked like it was set up for a rock concert.”

The New York Times reported that “Facebook’s offer price will be $38 a share, giving the company a valuation of $104 billion.”

Adrianne Loggins
Associate Editor

For more information on Mark Zuckerberg and the founding of Facebook, check out Facebook and Mark Zuckerberg by Judy Hasday. (ISBN 9781599351766)

~*~

Update: Tuesday, May 22, 2012:

Even after all of the hubbub surrounding Facebook’s first day as a publicly traded company, the company’s shares have dropped in dollar value since the opening bell Friday.

According to the Wall Street Journal, “Facebook shares recently traded 7 % lower at $31.65, 17% below their IPO price of $38. The stock fell as low as $30.98 Tuesday. The fresh bottom comes after the social network’s stock tanked 11% Monday as more investors and analysts began to question the size of the company’s public debut, which initially valued the company at $104 billion. The company is now worth about $86.7 billion based on the stock price Tuesday.”

The value of Facebook will most likely continue to fluctuate as traders try to grasp an idea of just how much the company is worth.

 

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Published in: on May 18, 2012 at 11:10 am  Leave a Comment  
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