Facebook IPO Exceeds $100 Billion Mark
May 15, 2012 10:37 AM
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Facebook is now looking to raise about $12 billion
Facebook's $100 billion initial public offering (IPO) was already set to be one of the largest IPO's in the tech industry, but now, the social network is looking to surpass the $100 billion mark by raising another $12 billion.
According to a filing with the U.S. Securities and Exchange Commission, Facebook increased the price target range from $28-$35 per share to $34-$38 per share today. This values Facebook at about $93 billion to $104 billion, exceeding the $100 billion mark.
At about $36 per share, Facebook would raise $12.1 billion.
Social networking giant Facebook revealed that it was planning a 2012 IPO back in November 2011. The company was talking about
raising $10 billion
for the initial public offering. Many had previously thought a 2011 IPO was in the works, but a shaky economy and ongoing
privacy battles with the U.S. government
put everything on hold.
In February 2012, Facebook made the IPO official. The company said it was looking to sell $5 billion of its private shares and hoped to be valued at $100 billion.
The set date for the company
to go public was May 18
The social network plans to complete the IPO later today, which is two days ahead of schedule. Facebook is expected to price its shares on Thursday and begin trading under the ticker "FB" on Friday.
Facebook's IPO is the largest ever to come out of Silicon Valley. In 2004, Google raised nearly $2 billion. Last year, Groupon raised $700 million and Zynga raised $1 billion.
After the IPO is completed and Facebook begins trading, the social network plans to sell 12.3 percent of the company, or $337.4 million shares.
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RE: Over valued
5/15/2012 11:15:40 AM
I think overvaluing companies is part of the culture of this generation's analyst. There was a time when valuation was very conservative, probably to avoid influencing investors. People are emotional: get them to think a stock is awesome and people might think it's awesome.
And this is FaceBook, so it just might be worth that much. People are willing to give up sex for this thing. Poor bastards...
RE: Over valued
5/15/2012 1:54:10 PM
Many people are letting emotions control thier investing. Its the same with buying a car....many consumers...mostly women (statistically proven) are driven by thier emotions...and not as much by the logical....thats why women tend to pay more for a car then men. Because its cute and they look good in it....forget about the monthly bill that eventually comes after the salesman is a faint memory.
There WILL be new investors....just so they can say they own FB stock.
"Young lady, in this house we obey the laws of thermodynamics!" -- Homer Simpson
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