I don’t usually report on financial news (though I’m very interested in finance / economics).. but I had to say something about this one.
Facebook finally filed for an IPO (initial public offering) which places the value of the company between $75 and $100 billion.
What symbol will they be filing for? FACE? BOOK? FBK?
It’s interesting to note that banks wanted to handle the underwriting of the IPO so bad they lowered their fees to a low 1%. This was done partly because of the “honor” in handling what could be (when accounting for inflation) the largest IPO of the century. It’s more likely because of all the additional business and access to the shares.
Will the IPO ruin Facebook? Is this the maximum value that Zuckerberg thought he could get for his company before cashing out?
Time will tell.