Hey, remember when Facebook bought Instagram for $1 billion? Well apparently buying the number one mobile photo app on the market isn’t stopping the freshly IPO-ed Facebook team from releasing a similar app of its own.
Just days after its controversial IPO, Facebook and its Wall Street bankers have been hit by shareholder lawsuits alleging that the social networking giant and its underwriters concealed the company’s decelerating revenue growth from investors.
Facebook’s Wall Street investment banks warned top clients of new doubts about the social network’s financial prospects just days before the company’s IPO, according to a series of reports that emerged Tuesday.
Even with such a schizophrenic welcome, no one expected the series of mishaps that has marked Facebook’s IPO. Here’s a look at the contributing factors.
Remember “Do Not Track,” the initiative in the White House’s Consumer Privacy Bill of Rights that called for an opt-out button for users who don’t want to be tracked by different sites? Well, it’s still alive and it has an influential new supporter.
For Facebook founder and CEO Mark Zuckerberg, it was quite a week – from birthday, to IPO, to I DO.
Facebook’s stock is trading up 8 percent Friday, as investors seek to put a dollar value on the company that turned online social networking into a global cultural phenomenon.
And just like that, Facebook is officially a publicly tradable stock after the company sold over 420 million shares at $38 a pop yesterday to raise $16 billion for its IPO. Also “just like that,” the company’s been sued by some of its users for nearly as much — $15 billion — in a class-action [...]
Facebook shares jumped 13% to hit $43 just minutes after the company went public in the largest Internet IPO in history.
Facebook is about to find out just how much status updates, puppy photos and billions of “likes” are worth on Wall Street.
Facebook has priced its initial public offering of stock at $38 per share, at the high end of its expected range. It means investor demand is strong for the world’s largest online social network.
