Facebook, the world’s most popular social network, is well-known for letting its users share content – now investors can grab shares in the site itself, after the company floated on the Nasdaq stock market in New York.
Anticipation for the flotation has risen in recent months, after Facebook founder Mark Zuckerberg unveiled plans for an IPO (initial public offering). Stocks were initially set at a price of around $38.
The flotation was supposed to open at 4pm today (Friday), but was delayed by around 30 minutes. Zuckerberg finally dinged the bell to signal the sale start at 4.30pm.
If the shares sell at $38 each, it would value Facebook at around $104bn – even more than retail leader Amazon.
It is expecting to raise around $18.4bn from the sale of shares – even adding an extra 84 million after interest skyrocketed.
How the sale goes remains to be seen – with concerns about Facebook’s longevity and ability to raise ad revenue making some investors hesitant to commit.
The world of social media marketing will be watching with interest.
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