Mark Zuckerberg retained a 22 per cent stake in the company as well as a majority of voting rights. 421,233,615 shares were offered for the IPO and over $16 billion was raised, making it the largest valuation placed on a company’s IPO to date. The Initial Public Offering (IPO) was one of the most anticipated in recent history with Facebook stock trading at an initial price of $38 USD per share. It has faced some negative backlash over advertising policies and tax aversion strategies in recent years, but Facebook remains the most widely used social media platform by a large margin.įacebook stock trading began on.
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This incredible growth was achieved through market penetration as well as through a series of strategic acquisitions such as Instagram, WhatsApp, Oculus as well as numerous other technology-based start-ups.įacebook continues to find innovative ways to remain relevant and work towards its stated objective of developing products that enable people to connect and exchange ideas with friends and family through mobile devices, personal computers, virtual reality and in-home devices.
Facebook has become the fifth most valuable publicly traded company based on market capitalisation in the world as rated by Forbes. Facebook reached one million users in its first year and has grown exponentially to over 2.5 billion monthly users today. It was founded in 2004 by Mark Zuckerberg, Eduardo Saverin, Dustin Muskovitz and Chris Hughes while they were attending Harvard University.
(NASDAQ: FB) is an American social media and technology company.
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