It's happened. Facebook is a public company. Should you invest in this massive offering? Join us live at 9:30 a.m. Pacific/12:30 p.m. Eastern to talk about the IPO and what it means for you. And also how it might change the economics of technology forever.
We have great people to talk about this IPO:
Jill Schlesinger from CBS MoneyWatch.com. Jill can help us sort out the pros and cons for investors interested in buying into this mega IPO. Andy Rachleff, CEO of Wealthfront, an Internet-era investment advice service. Andy'… Read more
Right now plenty of folks at Zynga are likely wishing this whole stock market thing was just a big social game.
As Facebook debuted on the Nasdaq this morning, the social game maker, which both enjoys and endures a symbiotic relationship with Facebook, saw its own stock fall off a cliff, dropping 13 percent, or $1.10 a share. That drop brought the stock to a new all-time low of $7.17 and triggered a freeze on trading of Zynga shares.
Last update: 1:37 p.m. PT.
The world's largest social network is now a public company, and though it got off to a good start, the share price story for the day wasn't terribly inspiring.
Facebook today kicked off its IPO day at $38 a share, and in early trading, the company's stock jumped 12 percent to $42.50, and touched a high of $43.20.
But the shares took a startling plunge soon thereafter back to about the starting price before trending upward once again to just over $41 by early afternoon Eastern time. The … Read more
After all the coin that's about to come his way, you would think that Eduardo Saverin would know how to spell the name of his co-founder at Facebook. Apparently not.
In a post on his personal Facebook page, Saverin offered props to one `Mark Zukerberg.'
On the eve of the Facebook public float, 8 plus year in the making, I as co-founder wanted to look back and cherish Facebook's early beginning. Congrats to everyone involved in the project from day one till today, and I especially wanted to congratulate Mark Zukerberg on keeping tremendous stead-fast focus, however hard … Read more
Finally, Facebook goes public.
You can follow our live coverage right here, so check back at 5:30 a.m. PT/ 8:30 a.m. ET on Friday when we kick off the live blog with some pre-trading chatter.
On Thursday afternoon, Facebook set the price of the IPO at $38 a share, giving the massive social network a market value of $104 billion out of the gate, more than the stock market value of Amazon and about half that of Google's. And at that price, Facebook has raised $16 billion by selling 421.2 million shares.
The Wall … Read more
So if I've got this straight Raul Castro's daughter Mariela deserves a visa to enter the United States but not (former American citizen) Eduardo Saverin.
Saverin, as you may have heard, has renounced his U.S. citizenship and will avoid paying capital gains taxes on windfall profits after Facebook goes public tomorrow. As the company's co-founder, Saverin's 4 percent share of the company is worth around $4 billion, give or take a few shekels. That has infuriated the morality police, and now the chatter has turned to how the U.S. may -- ought to? -- … Read more
If you want to know where the most famous hoodie-wearer in the world will be Friday morning, he'll be ringing a bell in Hacker Square.
Hacker Square is more or less the center of Facebook's Menlo Park, Calif., headquarters, and features a giant "HACK" in the cement that's large enough to be seen from space. The man with the hoodie is, of course, Facebook CEO Mark Zuckerberg. At 6:30 a.m. PT tomorrow, a source told CNET, Zuck will stand by a big crane in the square and ring a ceremonial bell in time … Read more
Let the show begin.
Facebook has set the price of tomorrow's IPO at $38 a share, after phenomenally strong demand from big money managers to get in on the biggest Internet IPO in history. The price gives Facebook a market value of $104 billion out of the gate, more than the stock market value of Amazon and about half that of Google's.
Facebook has raised $16 billion by selling 421.2 million shares. That's almost 10 times what Google raised when it went public in 2004, a deal that until now had been the record holder among … Read more
A statement from Facebook co-founder Eduardo Saverin says he will pay taxes on investment profits he earned while an American citizen. But this is not a change of his previous position.
Earlier today, Sen. Charles Schumer (D-N.Y.) said he planned legislation aimed at refusing U.S. visas to anyone believed to have renounced their citizenship as a ploy to avoid paying taxes. It would also levy a 30 percent capital gains tax. (Watch video of Schumer's statement below.)
"Eduardo Saverin wants to defriend the U.S. just to avoid paying taxes and we aren't going to … Read more