IPO

Facebook co-founder congratulates Zuckerberg on IPO day

Facebook co-founder congratulates Zuckerberg on IPO day

On the eve of the Facebook public offering it appears that Facebook co-founder Eduardo Saverin has buried the hatchet once and for all, offering congratulations to the Facebook staff and Zuckerberg specifically as well. Saverin was portrayed in the Hollywood portrayal of the Facebook story "The Social Network" as a founder of Facebook that was betrayed and pushed out by Zuckerberg - the real life story appears to be a bit sweeter in the end. Saverin also caught some press this month for renouncing his US citizenship in order to dodge the massive taxes he would otherwise have to pay now that his share of the Facebook IPO is going big.

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Facebook IPO hits third-biggest of all time [Live Stream]

Facebook IPO hits third-biggest of all time [Live Stream]

Today's Initial Public Offering of the social network known as Facebook has already set their stock up in the record books as the third largest IPO in history behind Visa and Enel. If Facebook's stock does sit at $16 billion as projected, it will be just behind Enel, an electric utility part-owned by the Italian government which earned $16.5 billion at its own IPO. Facebook is currently not projected to reach much higher than that, with Visa's 2008 IPO at $17.9 billion USD keeping the high mark extremely high, as it were.

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Facebook close to final IPO price

Facebook close to final IPO price

It was believed that Facebook was adding more shares to its IPO, set to begin trading tomorrow, but as it turns out those extra shares came from early investors looking to grab some cash. Now it looks like the final IPO price is being narrowed down, with shares expected to fall in the region of $34-38, up from $28-25. The final IPO share prices would put Facebook’s value close to $104 billion.

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Additional Facebook shares for IPO come from early investors

Additional Facebook shares for IPO come from early investors

Over the last few days, we've mentioned that Facebook has added in more shares of stock for its IPO than originally intended. As it turns out those additional shares of stock aren't coming from Facebook itself, rather they're coming from early investors looking to cash in on the recently increased target price. We know that Facebook is offering up to 484.4 million shares of class a common stock, including an overallotment.

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Facebook Co-founder preps for IPO by renouncing US citizenship

Facebook Co-founder preps for IPO by renouncing US citizenship

As Facebook's Initial Public Offering inches closer and closer, co-founder Eduardo Saverin has renounced his US citizenship for tax purposes. What this will do for him is cut down significantly on the cash he'll have to pay in to the USA once his end of the IPO money comes in. As Facebook rakes in what may end up being close to $11.8 billion in this IPO coming up soon, Saverin's cut will be somewhere around $3.84 billion USD.

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Zuckerberg a no-show at Facebook’s Boston IPO roadshow

Zuckerberg a no-show at Facebook’s Boston IPO roadshow

When you're trying to justify an initial public offering somewhere in the range of 11 billion dollars, it's a good idea to keep your calendar in order. Nevertheless, Reuters reports that Facebook's 27-year-old CEO Mark Zuckerberg declined to attend the second stop of the company's IPO roadshow in Boston, leaving over 200 observers - including potential investors - feeling like fans at a cancelled rock concert. Facebook's Chief Operating Officer Sheryl Sandberg fielded questions, but offered no explanation for her boss's absence.

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Reddit founder won’t invest in Facebook thanks to CISPA

Reddit founder won’t invest in Facebook thanks to CISPA

As you read this, tens of thousands of brokers and investors are scraping together every loose penny they can find to get a chunk of Facebook's initial public offering. But one technology investor won't be joining them: Alexis Ohanian, co-founder of Reddit.com and current NYC-based angel investor. He's not concerned with bubbles or percentages, just with Facebook's corporate culture: he objects to the fact that the social networking giant supports the Cyber Intelligence Sharing and Protection Act, or CISPA.

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Facebook IPO expected to face delays

Facebook IPO expected to face delays

The date for the Facebook IPO hasn’t even been made official yet, but already it’s being threatened by delays, according to sources familiar with the matter. CNBC reports that Zuckerberg and co have been so focused on acquisitions than they haven’t prepared themselves for the IPO. The current rumored date is May 17th, although these new developments mean it could happen towards the end of May.

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Facebook IPO tipped for May 17th

Facebook IPO tipped for May 17th

You know what’s cool? The Facebook IPO. New sources speaking to TechCrunch have indicated that the social networking company has set its sight on a May 17th date for its initial public offering. It's all dependent on if the SEC approves the paperwork Facebook filed not too long ago, of course. The new information falls in line with previous rumors that Facebook was aiming for a May date, and comes after the company asked firms to stop trading privately held shares.

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