"Facebook was not originally created to be a company," CEO Mark Zuckerberg wrote in his SEC Registration letter a little more than three months before Facebook went public on May 18, 2012. "It was built to accomplish a social mission — to make the world more open and connected."
In the year since the Facebook IPO, some things haven't changed: Zuckerberg still sports his trademark hoodies, employees still rate their company and their founder highly, and Facebook still talks about its grand mission to make the world more open and connected. But the era of Facebook operating or being perceived as anything other than a corporation seems more distant with each passing day Read more...
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Ah, the benefit of hindsight.
Those who rushed to buy Facebook stock at its initial public offering price of $38 per share on May 18, 2012, are likely a little disappointed with their investment one year later. Though the stock has recovered from its $17.55 September 4 low, the price of the stock today, at a little more than $26 per share, is still closer to its all-time low than its opening price.
What if investors had put their money into other technology or Internet companies? Statistics database Statista looked at how a $1,000 investment made on the day of Facebook's IPO would have performed nearly one year later in the chart below. Read more...
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It's easy to forget how sky-high expectations were for the Facebook IPO. The day before the company went public, some investors reasonably assumed that by the close of the market, Facebook would be worth $140 billion since the average first-day pop for tech companies was 32%
Forbes also urged investors to "Buy Early And Buy As Much As You Can." A poll of 800 people determined that Facebook would close at $55 on its first day as a public company, putting it in that ethereal $140 billion range.
A year later, we all know how things actually turned out. Facebook's stock price jumped a mere $0.23 on that first day. Over the next few months, the stock bottomed out at $17.55 — less than half its opening price. The backlash was so fierce that there was even a movement to dump CEO Mark Zuckerberg in favor of a more seasoned chief executive. Viewed in cold economic terms, the Facebook IPO was a bust Read more...
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Just hours before Facebook became a publicly traded company last May, Mark Zuckerberg took the stage at a pre-IPO hackathon and received a standing ovation from thousands of his employees.
In the year since then, those same employees have watched as Facebook's stock plummeted to less than half its IPO value before recovering somewhat, and presumably heard some of the negative comments from investors and analysts about Facebook's long-term viability as a company. Yet, almost exactly one year after that night, employees appear to approve of Zuckerberg as much as ever — perhaps more so in fact.
Zuckerberg had a 99% approval rating at Facebook for the full year since the IPO compared to 95% in the year leading up to the IPO, according to data provided to Mashable by Glassdoor, a job site that features anonymous employee reviews for thousands of companies. In fact, Zuckerberg had a 100% approval rating in three of four quarters last year based on new reviews on the site during those time periods, though it dipped slightly to 96% in the first quarter of this year. Read more...
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