Facebook just announced their initial public offering which starts at $28 to $35 a share. They will offer 157,415,352 class A common stock at a date that was not specified.
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The company just released a statement that they would offer “180,000,000 shares of its Class A common stock and the selling stockholders are offering 157,415,352 shares of Class A common stock.” They further stated that they’re earning any proceeds from share sales. This raises Facebook’s value at $77 billion to $96 billion. Earlier this week, it was predicted that Facebook’s value would rise to $100 billion.
It appears that The Wall Street Journal’s prediction is right. Earlier, they speculated that the social media giant would set their share price from the late-twenties to mid-thirties. Facebook will become the most valuable internet company from the United States and thereby replacing Google’s current reign.
Facebook is one of the most important companies in business today and Mark Zuckerberg is no doubt enjoying the ride. The Silicon Valley-based company was not the only successful company to come out of that area(think Groupon and Zynga) but they’re king of the crop with over 900 million users! It is the one website where everyone from all ages(tweens to seniors) come together to socialize, share information, and have fun- no wonder their share value is so high.
Thanks to some of the more recent social advancements made by Facebook, the company’s value may increase further in the next few months. Such improvements included more applications for reporting and blocking internet bullies and adding another feature that users to reveal organ donor status. What once used to be just a virtual hangout for college kids has changed to a near complete internet experience for millions all over the world.
We can only imagine what Facebook will do next in terms of branching out into other online avenues.