Internet

Facebook to sell shares at $38, values company at $104bn

Facebook will officially begin trading at $38 per share on Friday morning in what will be the biggest IPO ever from an internet company.After months of speculation, and a week of last minute adjustments from Facebook, Friday’s listing on the NASDAQ index will raise $16 billion for Mark Zuckerberg’s company.The CEO himself, who founded the company in his Harvard dorm, is expected to become an instant billionaire, selling over 30m shares to net over $1.1bn.The $38 shares, which will be available to buy to the public, will see the company valued at a staggering $104 billion overall, with $81 market capitalisation.Dwarfing GoogleThe $16 billion-valued IPO dwarfs the previous mark achieved by an internet company. Google hit the stock market in 2004 in the years following the dotcom bust, and raised $1.67bn.Facebook’s offering, however, is in a completely different stratosphere.Related StoriesScientists show off the future of Wi-Fi – smash through 3Gbps barrierNews In Brief: One More Thing: Rio Ferdinand for England, according to EA SportsYahoo in embarrassing Facebook lawsuit blunderGoogle unveils its semantic search plans – the Knowledge GraphGmail gets more Google+ with people-friendly makeover

Published

9 years ago

May 17, 2012

Zhang Fang

The CEO himself, who founded the company in his Harvard dorm, is expected to become an instant billionaire, selling over 30m shares to net over $1.1bn.The $38 shares, which will be available to buy to the public, will see the company valued at a staggering $104 billion overall, with $81 market capitalisation.Dwarfing GoogleThe $16 billion-valued IPO dwarfs the previous mark achieved by an internet company. Google hit the stock market in 2004 in the years following the dotcom bust, and raised $1.67bn.Facebook’s offering, however, is in a completely different stratosphere.

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Official: Facebook to sell shares at $38, values company at $104bn

Tech

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