In the movie The Social Network, Sean Parker asks Facebook founder Eduardo Saverin a question: ”You don’t even know what the thing is yet. How big it can get, how far it can go. This is no time to take your chips down. A million dollars isn’t cool, you know what’s cool? A billion dollars.” Mark Zuckerberg and company have taken this fictional lesson to heart. Facebook has raised the price of its IPO and the valuation of the company sits at $104 billion dollars assuming the IPO goes well. Facebook raised the maximum price of its stock to $38, and will be selling 337 million shares once it hits market.
This means that Facebook would be the first US company to be valued at $100 billion dollars at the time of its IPO. The previous record for an IPO valuation by a US company is a paltry $60 billion. The opening stock sale could raise as much as $12 billion dollars for the company when it hits the market, with stock prices between $34 and $38 dollars.
Facebook is rumored to be making its debut Friday on the NASDAQ. Its stock ticker symbol will be FB.
Tags: facebook, the social network, nasdaq, facebook to debut on friday on the nasdaq, facebook ipo friday, fb, facebook nasdaq symbol is fb, mark zuckerberg, facebook raises stock price, facebook valuation, facebook valued at 4 billion, facebook stock to be a share, facebook stock price, 0 billion dollar IPO, record IPO for a US company