The stock market got rocked when the news hit about the Facebook IPO on NASDAQ, and the social media giant is finally offering up the ability to publicly purchase shares in the company.
Their IPO (or Initial Public Offering) started off at $42.05, and will see a great deal of fluctuation until the markets close on purchasing. For anyone keeping track of past technology offerings from the past, this means that the company will hold the record for the biggest IPO in history in the tech sphere.
The company’s valuation is estimated at about $100 billion US—making it bigger than McDonald’s and Citigroup. All of this is pretty impressive considering the company was only created in 2004, and by a guy sporting a hoodie and flip-flops, no less.
It’s hard to say whether Facebook will be dominated by some other media down the road, but for now, it’s still everyone’s favorite Internet addiction.
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