By: Jill
Topic: Technology
Title: Facebook IPO: $5 Billion Filing to Sell Stock in May
Author: Ned Potter
Publication Name: ABC News
Date of Publication: Febuary 1, 2012
Legnth: 702 words
Announced on February first, Facebook and Mark Zuckerberg have some news. This spring, Facebook will begin selling stocks. This year, Facebook profited one billion dollars. Seven investment banks are involved in the IOP, or initial public offering. After stocks are released, Facebook will be one of the most valuable interned companies. By selling these stocks, facebook will become a public company. Facebook is becoming a public company for several reasons. One of these reasons is to prove its 'maturity' or show how it would take something great to rock its stable foundation. The stocks will be sold all around the world. The stocks will begin selling in May 2012.
This is important for facebook, placing in as cement in the internet world, right next to google and youtube. This also adds a bit if risk, changing what might happen is stocks fall. This sets facebook apart from other social networking websites, saying that facebook is here to stay and only improve. But what does this say about our society, that this website is valued the same as other perhaps more useful ones. Most importantly, this definitely says that facebook isn't going anywhere.
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ReplyDeleteClearly this company has enough users to survive with the big dogs such as Google and YouTube. I think the website going public is going to have profound effects on more than just the original employees who will now become millionaires. Not only is Facebook a large part of the internet but also a large part of our culture and daily lives. Specifically here in Silicon Valley where many of these said millionaires to-be reside, as their profits will boost our economy considerably. However these trickle down effects may prove unhelpful to many low income residence, who may get priced out due to increase in wealthy facebook stock owners in the housing market.
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