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| Photograph: Paul Sakuma/AP |
It’s a big day for Mark Zuckerberg and friends. Just a few minutes ago, the inventor and head of the world’s most popular social network rang the opening bell for the Nasdaq in anticipation of Facebook’s initial public offering (IPO) that will make him and a handful of people under the age of 50 millionaires or even billionaires. Shares are expected to begin trading around 11am Eastern Time at $38 per share.
This is also an exciting day for the tech industry in general as this is the largest Internet IPO ever (and the 3rdlargest IPO in U.S. history) and it certainly legitimizes the rise of social media. Despite all the hoopla, some analysts are warning against jumping into Facebook right away. Some warn to stay away from the stock for at least 6 months and some say to wait even longer.
One thing is for sure: the IPO puts a lot of pressure on the social media giant to monetize its 900 million users worldwide and maintain its place at the head of the class. Only time will tell if Facebook outpaces predecessors like Google and Apple or if it will become another sideshow attraction like Yahoo!.
Are you planning to invest in Facebook’s IPO? We want to hear from you in the comments section.
