Facebook (NASDAQ:FB) IPO Makes Around 850 New Millionaires
Facebook Inc (NASDAQ:FB), based in Menlo Park, California, initial public offering is poised to make almost 850 new millionaires, seeding a new class of angel financiers requiring to assist other startups build on the fame of the major social network.
Although not all of the young and rich will drop a part of their wealth into emerging Web and mobile corporations, spending has established to be popular among early Facebook alumni. Instagram Inc, Spotify Ltd and Flipboard Inc are all sponsored by that group.
A former Google Inc (NASDAQ:GOOG) executive and the founder of Felicis Ventures Aydin Senku stated that their capital and suggestion were in high demand as entrepreneurs require all the assist they can get when it comes to reaching Facebook’s 900 million users.
Facebook raised $16 billion in its Initial Public Offering most recent week, worth the social-networking company at $104 billion. Facebook marked the biggest in history for an Internet corporation at its debut, and over four times Google’s value at 2004 when the search engine went public.
Shares of Facebook fell -11.54% to $33.64 in New York on May 21. The overall volume in the previous trading session was 83.71 million shares. The stocks 2 days range was $33.00-$36.66. FB total market capitalization was $93.00 billion.
PrivCo, a research company that specializes in private firm’s financial data, stated that Of Facebook’s 3,700 workers almost 600 will turned to millionaires. The New York-based firm forecasts that another 250 former employees are millionaires or soon will be.
Turnings towards the rivals stock performance, Google Inc (NASDAQ:GOOG) surged 1.54% to $609.46, Linkedin Corporation (NYSE:LNKD) fell -1.84% at $97.20 and shares of AOL, Inc (NYSE:AOL) surged 1.35% to $26.36 on Monday at 10:36AM EDT.