February 1, 2012: Facebook Announces IPO
2012 – Facebook’s Mark Zuckerberg announced the company will be filing for Public IPO. The company will be looking for 5 billion dollars for the social network. Zuckerberg wrote in a letter to potential investors:
We think it’s important that everyone who invests in Facebook understands what this mission means to us, how we make decisions and why we do the things we do. I will try to outline our approach in this letter.
Trading began on May 18, 2012 at $38 and whereas the company was expecting a higher price, the stock closed at $38.23. The following day the stock fell even more. This made it one of the worst stock offerings of the time.
Eventually the stock started bouncing back. Today, it is worth around $76/share (at the time of writing this post)
Wikazine – Full show notes for February 1
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