Twitter on Thursday announced that it has filed documents with the Securities and Exchange Commission for an Initial Public Offering, or IPO. We ve confidentially submitted an S-1 to the SEC for a planned IPO, Twitter said in a post on its popular social networking site. This Tweet does not constitute an offer of any securities for sale. Twitter is able to file its S-1 confidentially because its annual revenue is less than $1 billion, and the document will remain confidential until three weeks prior to the offering as a result.
Billed as the largest tech IPO ever, Facebook's shares didn't 'pop' as many expected. The shares that debuted at $38 closed at $38.23 at the end of trade on its first day. Not the minimum of 20 percent jump that most investors expected. More than 576 million shares changed hands marking yet another record for US markets for trading volumes on debut.
Facebook has rewritten history by being the largest ever tech IPO and the third largest IPO overall. CEO Mark Zuckerberg remotely rang the Nasdaq bell from the company's Palo Alto head quarters. Facebook's shares will start trading in a few minutes for $38 under the ticker FB. Facebook will raise $19.6 billion from the sale,
Facebook founder and CEO, Mark Zuckerberg, received a massive standing ovation from Facebook employees as he stepped on stage to kick off tonight's hackathon at the company's HQ. The hackathon will conclude with Zuckerberg ringing the Nasdaq bell from Facebook's office, which will mark the opening of the company's IPO.
Pricing its IPO at $38 a share, Facebook, the highly popular social networking site that has over 45 million users in India, is expected to raise $16 billion, making it the largest tech IPO in history. It's reported to be the third largest US IPO ever, trailing only the $19.7 billion raised by Visa in March 2008 and the $18.1 billion raised by automaker General Motors in November 2010.
Facebook is all geared up for what is claimed to be the biggest IPO ever and it has just kicked off an overnight hackathon at its HQ. The hackathon will culminate with CEO Mark Zuckerberg ringing the bell at Nasdaq from Facebook's HQ. Facebook has priced its IPO at $38 and is expected to raise at least $18 billion, valuing the company at over $100 billion. Hackathons are an integral part of Facebook's culture where employees work overnight in a spree to come up with new products and services. Some of Facebook's greatest services like Timeline, chat and video were built during such hackathons. In fact, the company has a mantra called "the hacker way" where "code wins arguments" and there is a giant HACK mural installed at Facebook's new HQ. Zuckerberg even went describing the hacker way in his letter to potential investors in the first S1 filing with US authorities. Facebook's first hackathon at Harvard University was even portrayed in the movie The Social Network. Read on for Zuckerberg's interpretation of hacking and the hacker culture at Facebook.
Angry Birds maker Rovio has been having a pretty good time. Heck, some would say that they ve never had it better especially after the release of Angry Birds Space. Today, Reuters is reporting that analysts have valued Rovio at about $9 billion, which is just short of the Finnish numero uno Nokia, which admittedly is going through a rough phase.
Anyone who's seen The Social Network probably knows the Hollywood version of how Mark Zuckerberg started Facebook. Now with the real-world social network planning to go public (reportedly valued between $75-$100 billion), it is time for Zuckerberg to tell his potential shareholders why they should invest in Facebook. And he does that in an almost Google-like 'Don't be evil' manner in the S1 prospectus the company filed today. Zuckerberg has his moments in a letter the company included in the filing. Take this for instance, "we don t build services to make money; we make money to build better services." Or this, "Facebook exists to make the world more open and connected, and not just to build a company." My favorite bit, however is where he write about 'The Hacker Way' - the culture at Facebook and the mantra "Code wins arguments." Read on for the entire letter.
Facebook on Wednesday formally filed documents with the U.S. Securities and Exchange Commission in its first step toward an upcoming initial public offering. Facebook said it is looking to raise $5 billion with its IPO, which has been eagerly anticipated by the Street and by investors. Morgan Stanley, JPMorgan Chase, Goldman Sachs and others will underwrite the offering, and Facebook could raise as much as $10 billion following its IPO. Reports surfaced this past Friday stating that Facebook had plans to file for an IPO this week at a valuation of between $75 billion and $100 billion. At $5 billion, Facebook’s IPO would be the biggest Internet IPO in history, besting Google’s $1.9 billion 2004 offering by a huge margin. Facebook’s IPO also has the potential to top Infineon’s $5.9 billion offering, which is currently the biggest global technology IPO on record. In 2011, Facebook recorded sales of $3.71 billion and earnings of $0.43 per share on net income of $1 billion according to its S1 filing. Facebook also noted that it currently has 845 million monthly active users, and CEO Mark Zuckerberg owns 534 million shares, or 28.4% of the company. Zuckerberg’s public letter regarding the IPO follows below in its entirety.
Popular note-taking and syncing app, Evernote, has launched a version of the app for the PlayBook. The PlayBook version has a two column layout with the option to check notes in full-screen mode. Evernote has 14 million users out of which 500,000 users are premium users, who pay $5 per month. Different versions of Evernote
Facebook and Google are in separate talks to enter joint ventures with Skype, Reuters reported on Thursday. Facebook’s CEO Mark Zuckerberg has also reportedly been in clandestine meetings discussing an all-out purchase of the VoIP service. Skype’s IPO, which is expected to occur later this year, could be worth $1 billion, however, deals with Facebook or Google could bring in as much as $3-$4 billion, Reuters said. Skype 5.0 launched in October of this year and added tight Facebook integration, but the social network has yet to include native video calling into its website or mobile applications. Google could benefit from Skype’s mobile technology to build out its Android video-chat feature, too, which just launched late last month. Neither company has offered a comment on the matter.