Posts Tagged ‘facebook ipo’
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Bet you thought you’d escape all the Facebook IPO hoopla today by staying away from the platform and catching up on Twitter? Think again.
The tweets are flying about “the book” and they range from tech trading market savvy observations to bitter naysayers with hilarious quips. And you can probably guess which group we plan to focus on.
Yesterday, and with much fervour, business-focused social networking site LinkedIn went public on the New York Stock Exchange and, despite some initial scepticism and the usual ‘bubble’ allegations, the launch was a resounding success.
The stock opened at $83, and after rallying to an intraday high of $122.70 closed at $94.25, up 109% from the company’s $45 pricing. This makes LinkedIn one of the few companies in the post-dotcom era to double on its first day of trading, and values the business at a heady $9 billion.
Yesterday, Facebook COO Sheryl Sandberg, speaking at the Reuters Global Technology Summit, said that a Facebook IPO was “inevitable”.
“People used to ask us if we were going to get sold. People have stopped asking that question. We’re not. No-one is buying us. We’re going public.”
Which begs the question: is Twitter next, and high how could it go?