Software Bug Affecting Facebook Ipo

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Software Bug Affecting Facebook Ipo

By | October 2012
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FACEBOOK – At a glance:-

Facebook is a social networking website, developed in the February month of 2004 co-founded by Harvard drop-out Mark Elliot Zuckerberg with his college roommates and fellow students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes. Mark and his college mates developed this website as their college project and after its development, it was initially restricted to Harvard students only. In a month’s time, Facebook grew to include other Ivy League students as well, and within an year had over 1 million users. By the end of the year 2005, Facebook included a huge number of 800 colleges and Universities, then high schools and international schools. In 2006, it started accepting membership from all around the world. According to the recent count, this social networking website has over 1 billion active users. In 2009, it became the most used social networking website worldwide. Currently, Facebook is privately owned by its co-developer, Mark Zuckerberg, who happens to be the youngest billionaire courtesy Facebook. The organization that operates Facebook is Facebook Inc. Facebook’s headquarter is in Palo Alto, California. As of September, 2012, Mark Zuckerberg is at 35th position among the billionaires of the world with the net worth of $9.5 billion. Facebook Inc.’s implied value rose 8.9 percent to 102.8 billion. The dealings are expected to be the last auction of its stock on SharesPost Inc.’s exchange before the world’s most popular social-networking service’s initial public offering. According to SharesPost, the firm completed the auction at a price of $44.10 for 150,000 units. Later, SharesPost completed an auction with a price of $40.50 a share and valued the company at $94.4 billion, based on a share count of 2.33 billion.

Facebook – The strangest IPO of all time:-

The social networking site Facebook, Inc. held its IPO (Initial Public Offering) on May 18, 2012. The IPO was one of the biggest in technology and...

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