Facebook , the world’s biggest social media website, started selling stock to the public on Friday, with its initial $38 share price edging above $40 in the first hours of trading.
Facebook’s chief executive, Mark Zuckerberg, signaled the start of trading on the Nasdaq exchange in New York by remotely ringing a bell from company headquarters across the continent in California.
Chief executive, Mark Zuckerberg, signaled the start of trading on the Nasdaq exchange in New York by remotely ringing a bell from company headquarters across the continent in California.
The popular social networking site, with 900 million users worldwide, raised about $16 billion from the stock sale. That is one of the biggest stock debuts in U.S. corporate history and rivaled only by financial services company Visa and automaker General Motors. The stock offering drove Facebook’s value to at least $104 billion, making it one of the most valuable U.S. companies.
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