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.
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 …
Facebook shares jumped 13% to hit $43 just minutes after the company went public in the largest Internet IPO in history.
With the much-heralded Facebook IPO almost upon us, a backlash is growing amongst those weary of the endless hype. Some are skeptical of the company’s lofty valuation; others are just sick of all the attention being given to a site they see as little more than a frivolous time-sink.
As the big IPO looms, here’s a whirlwind tour of Facebook’s highlights and lowlights from 2004 to the present day (in just under two and a half minutes).
Last Friday, we learned that Eduardo Saverin, one of the co-founders of Facebook, had renounced his American citizenship in what seemed to be a transparent ploy to escape a hefty bill from the IRS in the wake of Facebook’s …
We love talking about ourselves, we really do — that’s what a group of Harvard neuroscientists found while testing the theory that we’re big on self-disclosure, anyway. In fact, say the scientists, we love self-disclosure so …
Giant online discount brokerage E-Trade has begun offering its retail clients a slice of Facebook‘s highly-anticipated IPO, making good on Mark Zuckerberg‘s desire to give casual investors the chance to participate in the red-hot stock offering.