Facebook's IPO price of $38 will raise $16 billion
Like it, share it, post it in the live stream — Facebook is now a public company.
The social network's co-founder Mark Zuckerberg rang the Nasdaq opening bell from Facebook’s headquarters in Menlo Park, Calif., on Friday, officially kicking off the biggest tech initial public offering in history.
After more than a year of pent-up anticipation and fevered speculation, Facebook priced its IPO at $38 a share, setting it up to raise $16 billion. The company's valuation is expected to rise to north of $100 billion.
Facebook's public debut is the third largest IPO in U.S. history, behind the $19.7 billion raised by Visa in 2008 and the $18.1 billion generated by General Motors in 2010, according to Reuters.
Questions ranging from Facebook's troublesome mobile app to its pricey acquisition of the photo sharing program Instagram continue to inspire debate among analysts. Still less than a decade after Zuckerberg revolutionized the way the world interacts digitally, the social networking platform is about to become extremely well-capitalized.
For a certain "hacker" in Menlo Park, that translates into a whole lot of hoodies.