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Thursday, May 17,2012

Facebook Prices IPO at $38 a Share; Value of Company is $104 Billion

A day before one of the most anticipated IPOs of the Internet age, Facebook said Thursday it has priced its shares at $38 apiece, giving the company an initial valuation of $104 billion, more than the combined value of Time Warner, Viacom, CBS and Yahoo.

The company will raise $18.4 billion, and the stock will trade on Nasdaq under the symbol "FB" beginning Friday.

Facebook, founded by Mark Zuckerberg and launched in 2004, has been the world's largest social-networking site since it surpassed MySpace in January 2009, according to Nielsen. It passed 10 million monthly unique visitors in the U.S. in November 2006 and in March this year it boasted 152 million uniques, meaning two of every three Internet users in the U.S. visited the site. In other countries, such as Brazil, Italy and New Zealand, the ratio of Facebook-to-Internet users is even higher.


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