SOCIAL MEDIA NEWS: Facebook IPO values company at $104 billion
Mark Zuckerberg rang the bell to open trading on the NASDAQ remotely today, and ushered in a new dawn for the world’s largest social network.
The company’s shares went on offer to the public at $38, securing $16 billion in the process.
Facebook is now worth $104 billion and its ability to dominate the social networking space has been significantly boosted by the deal.
It’s likely the development will see some changes in how Facebook generates revenue, and that is likely to have future consequences for marketers.
But on the day Facebook went public the world is sitting back and discussing how a university dorm room project has gone on to secure the largest ever IPO for a US technology firm.