Mark Zuckerberg will remotely ring the Nasdaq opening Bell to start the daily dealings. As per the latest news, and listings on the Nasdaq websites, the Facebook shares are decided to go out at $38, because of the high demands, which makes the eight year old company worth $104 billion.
Trading starts at 0930 localtime (1430 BST), that is just half an hour from now (1400 BST now).
UPDATE : Facebook out on the NASDAQ board.
The valuation means the social network will be ahead of the stalwart Disney in terms of valuation. Initial Public offering of shares, of Facebook is the 3rd largest ever worldwide, after Visa and General Motors.
Facebook after a month of meetings and discussions has come up with 421 million shares, buying them $16 billion, which will be utilized to overcome debts and in further progress of the company.
Just before the night of the great and most awaited IPO, a Hackathon was organized for Facebook employees, and all the employees were up all night taking part in it and enjoying.
The basic area that Facebook will be focusing in its coming years will be basically, increasing its profit, by developing the mobile platform and other functionality. Facebook App store and the paid posts will obviously add to the revenue.
Currently Facebook makes around $5 profit, form each of its 900 million users every year, which is a bit low, considering the size of the Social Network.
Value of Facebook stakes
- Mark Zuckerberg $19.1bn
- Dustin Moskovitz $5.1bn
- Alisher Usmanov $5bn
- Eduardo Saverin $2.9bn
- Sean Parker $2.5bn
- Peter Thiel $1.06bn
- Sheryl Sandberg $1bn
- Chris Hughes $835m
- Yuri Milner $400m
- Mark Pincus $164m
And in case you wish to buy the Facebook shares, a Hongkong based company 8securities , is offering $200 worth of Facebook shares, if you sign up with their Trading platform.
And for more information about the IPO's overview, visit NASDAQ website.
Here are some pics from the Facebook Hackathon, organized the previous day.
